Trade and customs compliance is still a new concept in China, but it is very popular in developed economies. Many multinational companies have set up special trade and customs compliance management departments to monitor the implementation of local regulations and internal company policies in foreign trade, customs and logistics by economic entities around the world, and to control and manage regulatory risks in a timely manner.
Many intermediary departments, including accounting firms, law firms and consulting agencies, also provide third-party consulting services. Professionals with professional backgrounds and experience in customs, accounting, law, etc., accept the commission of the company or the head office, and in accordance with the requirements of the management, inspect the company’s import and export, logistics, trade, finance and other aspects of the compliance with local trade and customs laws and policies, as well as the company’s own policy formulation and implementation, and provide independent third-party professional opinions, pointing out compliance risks and improvement suggestions.
Trade and customs compliance inspections involve different business scopes and departments, including not only customs departments, but also logistics, finance, planning, warehouses, procurement and sales departments, and even manufacturing and production departments. Therefore, it requires the participation and coordination of senior company executives, and also requires professionals to have professional knowledge in customs, trade, finance and law.