The China-Japan agreement on mutual¹ Authorized² Economic Operator (AEO) status will go into effect on June 1.

 

中国-日本海关“经认证的经营者”状态将于6月1日开始生效。

 

Under the agreement, companies that obtain the AEO status in the two countries will enjoy simplified customs procedures, such as reduced examination and prioritized clearance³, when they export products to the other country.

 

China and Japan signed the AEO agreement in October last year, said the GAC.

 

The AEO system, initiated⁴ by the World Customs Organization, aims at facilitating customs clearance for enterprises through the authentication⁵ by customs on enterprises with a high level of law compliance⁶, credit status and safety.

 

China has signed mutual AEO agreements with 36 countries and regions including Singapore, the Republic of Korea, the European Union, Switzerland and New Zealand.

 

As each other's major trading partners, China and Japan have seen stable growth in trade and investment. In the first three months, Japanese investors⁷ set up 221 firms in China, up 44.4 percent year on year while its foreign direct investment in the Chinese mainland increased by 1.6 percent year on year to 1.09 billion U.S. dollars.

 

China has also made big investments in Japan. By the end of March, China's total direct investment in Japan had amounted to 3.5 billion dollars, covering various industries including manufacturing, financial services and telecommunications, showed data from the Ministry⁸ of Commerce.

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