It has been two years since Zhongshan promoted “aggregate taxation” policy, according to Zhongshan Customs. It benefited 8 companies (including 5 based in Zhongshan) involving $160mn worth exported goods and 230mn yuan “aggregate tax” by reducing customs clearance time.

For example, Taiwan Union Technology Corporation Zhongshan Company, who has large taxable business volume, has to deal with 80 import levies per month. Previously, the company’s staffs have to travel between customs house and banks every day. But under the “aggregate taxation” policy, now they only need to handle the business once a month.

“It saves manpower for us, and relieves liquidity stress as well.” Says a staff of the company. Thanks to the “aggregate taxation” policy, the company’s monthly cash flow can exceed 7.5mn yuan.

In the first seven months of the year, Zhongshan Customs had approved 866 “aggregate taxation” business, involving 830bn yuan tax.