On January23,2003 Luo Dongjiang, the vice president of Sinochem, on behalf of Sinochem, signed an MOU with the Customs General Administration. Sinochem becomes the fourth pilot enterprise signing an MOU with the Customs General Administration nationwide.
By this MOU Sinochem will enjoy various preferential services offered by the Customs, such as fast customs declaration and supervision of processing trade. The customs will supervise the business operation of Sinochem and provide clues of potential violation of rules and smuggle. Sinochem will be able to conduct direct dialogue with the contact persons of the various agencies of the Customs.