Does the Import and Export Right of Domestic-funded Enterprises Really Matter That Much?

In the wave of economic globalization, more and more domestic-funded enterprises are eager to show their capabilities in the international market. And the import and export right, just like the key to opening the door of global trade, is of crucial importance. Today, let's explore those matters related to the import and export rights of domestic-funded enterprises together.

The import and export right of domestic-funded enterprises, simply put, means that domestic-funded enterprises have the qualification to independently carry out import and export business. In the past, not all domestic-funded enterprises could easily get involved in the import and export field. Many restrictions forced enterprises to conduct relevant operations only through foreign trade agency companies. However, with the gradual relaxation of policies, after domestic-funded enterprises obtain the import and export right, they can directly connect with the international market, reduce trade costs, increase profit margins, and more flexibly seize market opportunities.

First of all, Reduce Transaction Costs. In the past, when relying on foreign trade agencies, enterprises needed to pay a certain proportion of agency fees. After having the independent import and export right, this part of the cost can be saved and directly converted into the enterprise's profit. Secondly, Improve Efficiency and Flexibility. Enterprises can directly communicate with foreign customers without the turnover of intermediate links, and can respond to customer needs more quickly and adjust production and sales strategies in a timely manner. Thirdly, Shape the Enterprise Image. Having the import and export right indicates that the enterprise has the strength to participate in international competition, which is beneficial to enhancing the enterprise's popularity and credibility in both domestic and foreign markets.

• Industrial and Commercial Registration Change: If there is no relevant expression about "import and export" in the business scope of the enterprise's business license, it is necessary to first change the business scope and add similar contents such as "Import and Export of Goods and Technologies".
• Record-filing with the Bureau of Commerce: Conduct the record-filing registration of foreign trade operators on the website of the local Bureau of Commerce, fill in relevant information and submit the application. Usually, materials such as a copy of the business license and the identity card of the legal representative are required to be provided.
• Customs Record-filing: Log in to the China International Trade Single Window to complete the customs record-filing procedures. Enterprises need to provide materials such as a copy of the corporate legal person's business license and a copy of the Record-filing Registration Form of Foreign Trade Operators. After the customs review is passed, the enterprise will obtain the customs code, which is an important identification code for the enterprise's import and export customs declaration.
• Access to the Electronic Port Network: Apply for an Electronic Port IC card, which is used for enterprises to conduct import and export business operations on the Electronic Port platform, such as customs declaration, inspection declaration, etc. When handling it, relevant application forms, a copy of the business license and other materials need to be submitted.
• Other Record-filing: According to the characteristics of the enterprise's import and export products, it may also be necessary to handle procedures such as inspection and quarantine record-filing and record-filing with the Foreign Exchange Administration Bureau.

First, Prepare Materials Completely and Accurately. The materials required for each application link must be fully prepared, and the information must be ensured to be true and correct. Otherwise, it may lead to application delays or even non-approval. Second, Pay Attention to Policy Changes. The policies related to import and export will be adjusted according to the international and domestic situations. Enterprises should timely understand the latest policy developments to ensure that the application and business activities are compliant. Third, Train Professional Personnel. Import and export business involves knowledge in many aspects such as international trade rules, foreign languages, customs declaration and inspection declaration. Enterprises need to equip with professional personnel or conduct relevant training for employees to better carry out business.

The import and export right of domestic-funded enterprises provides a broad stage for enterprises to explore the international market. Dear operators of domestic-funded enterprises, you might as well take active actions, understand and apply for the import and export right, and let your enterprises ride the waves in the ocean of global trade and sail towards a more glorious future. Believe that after mastering the import and export right, enterprises will surely open a new chapter of development and reap more opportunities and achievements.