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Good News: Hongta Renheng Has Successfully Re-validated as a Customs Advanced Certified Enterprise

2023/08/31

On October 25, Hongta Renheng received the exciting news that it had successfully passed the re-certification as a Customs Advanced Certified Enterprise! Under the close attention and sound guidance of Hongta Renheng’s leadership, and through the concerted efforts of all employees, Hongta Renheng Packaging Co., Ltd. has once again been re-certified as an AEO Advanced Certified Enterprise, thereby retaining its prestigious status as a Customs Advanced Certified Enterprise.

This prestigious honor has not come easily! At present, just over 3,100 enterprises have obtained Customs Advanced Certification (AEO), accounting for only 0.48% of the total number of customs-registered enterprises nationwide. The new “Customs Certification Standards for Enterprises” came into effect on January 1, 2019, and is widely regarded as “the strictest certification standard in history.” Compared with the old standard, the new standard differs in its value orientation, Legislative approach, legislative structure, legislative content, internal audit system, information systems, Financial standards, Changes have occurred across these eight aspects of the conditions.

The certification carries tremendous prestige. Achieving Authorized Economic Operator (AEO) status with customs is tantamount to obtaining a “green pass” for international trade, entitling the enterprise to a range of streamlined customs clearance procedures and policy support, including reduced inspection rates, simplified document review, and priority access to preferential policies. This helps companies enhance customs clearance efficiency and reduce associated costs.

At the same time, an enterprise’s credit rating under customs’ credit management system also determines its financial credit limit, the eligibility criteria for government incentive funds, and the level of insurance costs. For example, multiple ministries and commissions have jointly introduced incentive measures for enterprises with advanced certification, and some financial institutions have begun to offer differentiated interest rates and fee structures based on an enterprise’s credit rating. In the recently launched guarantee insurance program, significant differences in premium rates are observed among enterprises with advanced certification, general certification, and ordinary credit ratings.

Obtaining AEO certification will serve as a critical entry barrier for suppliers to all leading enterprises; only the most outstanding companies will be able to achieve AEO accreditation. Hongta Renheng will take this as an opportunity to pursue lean management, strive for excellence, and continuously open up new frontiers in the company’s development.

Finance Center Written by Wu Ningjuan

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