Recently, General Administration on Customs publicized “China Credible and discreditable Import and Export Enterprises, 2005”. Sinochem and its subsidiary Sinochem Tendering were named as “Credible Import and Export Enterprise”.
The criterion for Credible Import and Export Enterprise is quite complex. “The volume of import and export” and the “taxation remitted” are both important indicators. The final entrants should also be clear of any irregularities and delinquencies with the acknowledgement from industrial and commence, taxation, foreign exchanges and banking agencies. The entrants of “Credible Import and Export Enterprise” also enjoy the favorable treatment. They can get the customs clearance first than pay the tariff, get priority to go through commodities’ classification and examination process etc.