Industry information

Cancelation of Verification Certificate

Published by January 19,2021


Cancelation of Verification Certificate
In order to give great impetus to easy trading and further improve service and management of commercial trade, announcement was issued by State Administration of Foreign Exchange, Customs Bureau and State Administration of Taxation. From 2012-8-1, foreign exchange control system for commodity will be reformed, adjusting relevant flow of export declaration, optimizing and upgrading Information sharing system between export Receipt of Proceeds and export rebates.
From the date of reform, cancel paper for verification of export earnings (hereinafter referred to as the verification sheet), enterprise will no longer deal with formalities of verification. The state administration of foreign exchange branch bureau (hereinafter referred to as foreign exchange bureau) promptly cancels after verification for enterprise trade foreign exchange instead of total amount checking. Exchange office comprehensively collect data of importing, exporting and exchanging in enterprise trade through Trade Foreign Exchange Monitoring System, comparing regularly and evaluating overall the matching between trade goods flow and funds flow. It makes foreign exchange receipt and disbursement easier for enterprise. Exchange office will monitor or even on-site verify for the exceptional enterprises.