The General Administration of Customs (GAC) announced on Tuesday the launch of a new insurance program designed to support cross-border commerce.
To enhance the business environment and facilitate cross-border e-commerce retail import trade, the GAC on Tuesday initiated a pilot program for cross-border e-commerce retail import tariff guarantee insurance in the cities of Qingdao, Hangzhou, Ningbo, Jinan, Chongqing, and Chengdu.
Cross-border e-commerce enterprises now have additional options for securing insurance guarantee customs clearance, complementing the original two modes: deposit and bank guarantee. With insurance documentation, these enterprises can benefit from the convenience of "post-release duty payment" when their imported goods clear customs.
The retail import tariff guarantee insurance in cross-border e-commerce requires that qualified insurance companies provide tariff guarantees for cross-border e-commerce enterprises. If these enterprises fail to pay customs duties in accordance with regulations, the relevant insurance companies will cover the outstanding tax payable to customs as specified in the insurance contract. This model eliminates the need for enterprises to secure a quota from the bank through physical collateral or to pay a substantial tariff deposit.
"The rate of tariff guarantee insurance is about 1.5 percent, and the guarantee amount can be used repeatedly throughout the year, with one application being valid for the entire year," said Bi Haijun, director of the Tariff Department of Qingdao Customs.
China launches new insurance to support cross-border commerce
In a letter to UN Secretary-General Antonio Guterres and the Security Council on Saturday, Iranian Foreign Minister Seyed Abbas Araghchi urged the United Nations, particularly the Security Council, to take immediate action to halt "the illegal use of force" by the United States and Israel against Iran.
In the letter, Araghchi said that on Saturday, the U.S. and Israel blatantly violated Iran's national sovereignty and territorial integrity by launching attacks on defensive installations and civilian sites across multiple Iranian cities. He characterized these actions as a clear violation of the UN Charter and an unmistakable armed aggression against Iran.
In response to this aggressive act, Araghchi emphasized that Iran reserves its inherent and legal right to self-defense under Article 51 of the UN Charter, and that the Armed Forces of Iran will utilize all necessary defensive capabilities and measures to counter this "criminal aggression".
The letter warned that all bases, facilities, and assets of hostile forces in the region should be considered legitimate military targets within the scope of Iran's lawful exercise of its right to self-defense.
The United States and Israel, it added, should bear full and direct responsibility for all consequences arising from their actions, including any escalation of tensions.
Citing the serious and far-reaching impact of this armed aggression on regional and international peace and security, Iran called on the UN Secretary-General and Security Council members to take immediate action. Araghchi also called for an urgent convening of a Security Council emergency session to take necessary and immediate measures to halt the illegal use of force and hold the aggressors accountable.
Iran also appealed to all UN member states to strongly condemn this act of aggression.
At least 201 people were killed and 747 others injured in the U.S.-Israel joint strikes on Iran, the Iranian Red Crescent Society reported Saturday night, adding that at least 24 of Iran's 31 provinces were affected by the attacks.
Iran urges UN to halt US, Israeli military actions
