Ningbo enterprises benefit from VAT reduction of imports

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Category: Ningbo Business

Published: Friday, 24 May 2019 09:02

“Since the VAT rate was lowered on April 1 this year, the import value-added tax that we need to pay has been greatly reduced.” On May 22nd, the person in charge of Supertime (Ningbo) Malt Co., Ltd. said that it has helped them save 24,000 yuan in taxes from 1,000 tons of imported barley.

Since April 2019, VAT rate on imported goods has been lowered overall. Imported goods that enjoy VAT reform are mainly two categories: for the first category, the tax rate is adjusted from 16% to 13%, mainly including mineral products, crude oil, machinery and equipment; the other is adjusted from 10% to 9%, mainly including agricultural products, natural gas, agricultural machinery, petroleum liquefied gas, etc. According to statistics from Ningbo Customs, Ningbo enterprises enjoyed a tax reduction of nearly 1.23 billion yuan in April.

The person in charge of Jinguang Food (Ningbo) Co., Ltd. said that after the tax rate was lowered by 1 point, the company's import VAT in April was reduced by 3.65 million yuan. It is estimated that the annual VAT paid in 2019 can be reduced by 16.58 million yuan

First "Road to Railway" coal train launched in Ningbo Zhoushan Port

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Category: Ningbo Business

Published: Friday, 24 May 2019 08:58

On the afternoon of May 20th, the coal railway line in Zhenhai harbor area of Zhoushan Port was quite busy. The “35-ton open-top carriage” loaded with 30 standard boxes was sent to Shaoxing after completion of the trial installation. This is the first water and rail transfer coal business of Ningbo Zhoushan Port to implement the national “Road to Railway” project and introduced a new model of railway bulk cargo transportation in the port.

It is learned that the "road to railway" coal train uses water and railway transfer mode. The loaded"35-ton open-top carriage" is the first model of Ningbo Zhoushan Port railway, which is convenient to load and unload and has high environmental protection standards. After the successful trial operation of this project, it will form a demonstration effect with convenient, environmentally friendly, door-to-door service advantages, and can benefit coal customers in Zhejiang, Jiangxi and other regions, which will provide strong support for Ningbo Zhoushan Port railway express train brand.

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China (Ningbo) - Latvia cross-border e-commerce harbor project started

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Category: Ningbo Business

Published: Friday, 24 May 2019 09:02

On May 20, local time, the Chinese Embassy in Latvia, Latvian government officials, business representatives, and local media representatives witnessed the launching ceremony of China (Ningbo)-Latvia cross-border e-commerce harbor in Riga, Latvia. Through cross-border e-commerce platforms, specialty products from Latvia and other Central and Eastern European countries can quickly and directly enter the Chinese market.

“Rilakdekor Mineral Coatings produced by the Riga Paint and Coatings Plant in Latvia is the first containerized cargo in the Harbour. The container is loaded with 1,425 barrels of nearly 13,000 liters of Rilakdekor Paint and is expected to arrive in China in mid-July.” Zhang Zhuoying, Secretary of Chairman from China-based Ningbo Foreign Trades believes this business is only the beginning. Driven by the Ningbo platform, more Central and Eastern European products will choose Ningbo as the entrance to China.

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Imported Commodities Expo to be held

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Category: Ningbo Business

Published: Friday, 24 May 2019 08:53

There are about five months before the opening of the 2nd China International Import Expo, Ningbo can’t wait for it now and has started warming up – from May 24th to 26th,2019 China Cross-border E-Commerce International Famous Products Expo and Zhejiang Import Commodities Exhibition (hereinafter referred to as the “Imported Commodities Exhibition”), co-sponsored by Ningbo Municipal Government and Zhejiang Provincial Department of Commerce, hosted by the Municipal Council for the Promotion of International Trade, will be held at Ningbo International Convention and Exhibition Center.

Thousands of cross-border purchase platforms, more than 10,000 international famous products, and imported fine products from more than 100 countries and regions will be unveiled.

“Ningbo has always been committed to building a distribution center for imported consumer goods and hopes that many featured products can enter China through Ningbo.” At the recent press conference, the person in charge of the organizing committee introduced that a new round of high-level opening to the outside world is being vigorously promoted.

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