GUANGZHOU, April 9, 2019 — FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and one of the world’s largest express transportation companies, has officially launched the Cross-border E-commerce Export Solution in South China. By adopting the Consolidated Clearance Declaration method as part of the solution at the FedEx Guangzhou and Xiamen Gateways, FedEx provides efficient customs clearance service for cross-border e-commerce companies, which enhance their competitive edge by enabling them to ship their products to international markets faster.
Under the Consolidated Clearance Declaration mode, FedEx customers’ e-commerce retail export products will be able to enjoy a “one-stop” export customs clearance solution, which reduces the time and related costs for preparing customs declaration documents. Additionally, the solution makes it easier for cross-border e-commerce companies to go through the tax refund and foreign exchange settlement procedures and helps them keep track of export transaction records.
“In order to help e-commerce customers expand their business globally, FedEx has been working closely with local customs to solve import and export customs clearance problems for the cross-border e-commerce industry,” said Robert Chu, managing director, Operations, FedEx China. “Unlike the traditional export customs clearance methods, the new Cross-border E-commerce Export Solution not only provides a highly efficient customs clearance experience for our customers, it also offers the chance to enjoy tax rebates for low-value export products and a fully transparent transaction record.”
SMEs have become the driving force for global development, with e-commerce providing more opportunities as it continuously expands the boundaries of global trade. For example, according to Harris research, 94% of China SMEs use e-commerce, and overall, China SMEs reported that exports represented 71% of their revenue[1].
As e-commerce becomes the main driving force for China’s economic growth, cross-border e-commerce export transactions in China are expected to reach about 13.8 trillion yuan by 2022, with a compound annual growth rate of 17%[2]. In order to enable more small- and medium-sized e-commerce companies to enjoy efficient customs clearance services, FedEx plans to promote its Cross-border E-commerce Export Solution to more cities across China.
In addition to export solutions, FedEx has been improving inbound customs clearance efficiency for cross-border e-commerce companies, helping them grow their businesses in the international market. Last November, FedEx expanded the Cross-Border E-Commerce Inbound Solution for the e-commerce industry, providing an inbound ecommerce clearance solution for cross-border e-commerce retail businesses (B2C) at the FedEx Beijing and Guangzhou gateways. Regardless of whether the e-commerce inbound shipment is within or exceeding the tax limits for cross-border e-commerce import retail shipments, shipments can be released on the same day at the earliest.
About FedEx Express
FedEx Express is one of the world’s largest express transportation companies, providing fast and reliable delivery to more than 220 countries and territories. FedEx Express uses a global air-and-ground network to speed delivery of time-sensitive shipments, by a definite time and date supported by a money-back guarantee[3].
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $69 billion, the company offers integrated business solutions through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 450,000 team members to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. To learn more about how FedEx connects people and possibilities around the world, please visit about.fedex.com
[1] Harris Survey: Global is the New Local: The Changing International Trade Patterns of Small Businesses in Asia Pacific, September, 2019.
[2] CIC Industry Research Center
[3] Subject to relevant terms and conditions