The launch ceremony for the trial run of the method of market procurement trade in Taizhou, East China's Zhejiang province [Photo/taizhou.com.cn]

A total of 494 containers loaded with commodities such as bikes and baby strollers completed customs clearance procedures in Taizhou under the new market procurement trade model and were loaded onto vessels bound for Morocco on Nov 23.

In mid-September, the General Administration of Customs and seven other ministries and commissions designated a total of 17 markets in Zhejiang, including the Taizhou Luqiao daily necessities and plastic products trading center, as pilot zones for market procurement trade.

Market procurement trade refers to goods purchased by qualified operators in a market agglomeration area recognized by the national commerce department. The value of a single-ticket declaration form is less than $150,000 and the export is handled at the place of purchase. 

Market procurement trade has simplified the customs clearance process for enterprises and adopts more flexible transportation standards when compared with general trade.

The launch of the new trade model is expected to inject new momentum into industrial transformation and upgrading in Taizhou and help local enterprises expand their global presence, noted Mayor Wu Haiping.

A 4,000-squre-meter center for market procurement trade has already been put into operation at the Luqiao daily necessities and plastic products trading center, providing services such as customs, foreign exchange, taxation and market supervision.

Xie Liqing, general manager of Zhejiang CAFTP Service Co Ltd, a one-stop foreign trade integrated service platform in Taizhou, said that the operation of the new foreign trade model allows them to enjoy expedited customs clearance after receiving orders overseas.