China's tax refunds, cuts for foreign trade companies in 2022 hit over $40 billion

(ECNS) -- China supports all enterprises to enjoy various types of tax preferential policies and tax reduction and tax refund for foreign trade companies last year reached 285 billion yuan(around $41.35 billion), said Yu Jianhua, director-general of China's General Administration of Customs, on Monday.

Compared with major trading powers, the import and export of Chinese goods have not been hindered due to the COVID-19 epidemic, rather, customs clearance was faster and more convenient, he said.

In December 2022, the overall customs clearance timing of imports and exports across China shorten 67 percent and 92 percent compared to 2017, respectively, Yu added.

The customs keeps innovating regulatory models, such as setting up a "green channel" for agricultural food products, continuously optimizing the port business environment.