Over 5,800 AEOs account for nearly 40 pct of China's foreign trade value

Guests attend the opening ceremony of the 6th World Customs Organization (WCO) Global Authorized Economic Operator (AEO) Conference in Shenzhen, south China's Guangdong Province, May 8, 2024. (Xinhua/Liang Xu)

SHENZHEN, May 9 (Xinhua) -- In 2023, Authorized Economic Operators (AEOs) accounted for 37.1 percent of China's foreign trade value and 37 percent of the country's total tax payment, according to the latest customs data.

The AEO system, initiated by the World Customs Organization (WCO), aims to facilitate customs clearance for enterprises through customs agencies' authentication of enterprises with high levels of legal compliance and safety, and a high credit status.

There are more than 5,800 enterprises with AEO status in China, according to the 6th WCO Global AEO Conference, which opened in Shenzhen, south China's Guangdong Province, on Wednesday.

Enterprises with AEO status can enjoy a series of preferential management measures such as priority processing, reduced frequency of supervision, and optimized services, which effectively reduce the cost of international trade and enhance international competitiveness of enterprises.

Wang Lingjun, deputy head of the General Administration of Customs (GAC) of China, said Chinese customs have helped enterprises with AEO status complete 1.53 million priority services and inspected 11,000 batches of goods in a "non-intrusive" way.

At the same time, enterprises with AEO status can enjoy more than 40 incentives such as "green channel," loan interest discount and simplified procedures provided by multiple departments of the country.

The conference, hosted by the WCO and co-hosted by the GAC and the municipal government of Shenzhen, will last for three days under the theme of "harnessing the power of AEO programmes for inclusive and sustainable global trade."

More than 1,200 delegates from customs, international organizations, AEO enterprises, governments agencies, academic institutions, and industry associations from more than 100 countries and regions have attended the conference.

The Global AEO Conference is held every two years. Since 2012, the Republic of Korea, Spain, Mexico, Uganda and the United Arab Emirates have hosted five sessions of the conference.