(File Photo)

Since its launch in October 2019, the platform designed to facilitate Market Procurement Trade in Changshu City has recorded exports exceeding 70 billion yuan.  This trading format is characterized by fast customs clearance and VAT exemption.

Recently, Chen Yue, the owner of Jinyici apparels firm in Changshu, was busy processing an export order valued at $150,000. It comprised over 40,000 pieces of children's clothing destined for the Philippines, to be completed before July 11. After packaging the goods, Chen uploaded the trade files to the platform, which then managed the export process. This platform, called Shicaitong in Chinese, not only shortens the export period by 4-5 days but also minimizes the transaction risks.

The platform provides a one-stop services such as merchant registration, commodity filing, supervision, risk control, customs declaration, foreign exchange settlement, export credit insurance, and tax declaration. It integrates governmental guidance with market-led operations and has served more than 21,000 SMEs.

Jing Wenjie, general manager of Zhenjiang Kimtex, said the platform enables traditional foreign trade enterprises to adapt flexibly to market changes and supports their transformation and upgrading. Since 1994, the company has been exporting hats, scarves, masks and other products to regions including North America, Europe and Southeast Asia. Facing a challenging trade environment, Jing increasingly relies on the platform to efficiently process orders.

Changshu has played a key role in piloting the market procurement trade mode. The platform, as a proven success, has been replicated and promoted in six pilot areas, including Pingxiang in Guangxi, Ruili in Yunnan, and Tangshan in Hebei. This initiative now facilitates the export of commodities in 61 major categories to 168 countries and regions via China’s 105 ports.

In addition, the platform coordinates with other logistics solutions, such as the China-Europe freight trains from Suzhou and Xuzhou cities, the China-Laos Railway, and China-Australia freight lines. These efforts have fostered a comprehensive cross-border logistics service that is fast, accurate and targeted.

In 2022, the platform was selected as a best practice in China’s comprehensive local reform. From January to May this year, the platform reported an export value of $1.36 billion, marking a year-on-year increase of 4.6%.

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