Recently, as informed by Nanjing Customs, Nanjing High Speed Gear Manufacturing Co., Ltd (the wind power transmission equipment manufacturing base of NGC) had successfully obtained the senior AEO Certification upon passing reviews by the customs certification panel, heralding further improvement in our comprehensive strength and corporate competitiveness in the global market.
The AEO system refers to a set of standards formulated by the World Customs Organization to protect and facilitate international business and international trade. AEO certification is the highest certification under the WTO rules, and therefore, AEO enterprises means customs certified enterprises. The General Administration of Customs of the People’s Republic of China promulgated the “Enterprise Credit Management Interim Measures for the Customs of the People’s Republic of China” on December 1, 2014. Based on the enterprise credit status, enterprises will be divided into a certified enterprise (under AEO), a general credit enterprise, and a faithless enterprise. Senior certification is the highest credit rating. The enterprises with the AEO certification enjoy the same certification standards and mutual recognition by national customs. Moreover, they enjoy convenience with the most favorable “VIP” customs clearance. In case of exports to the European Union, South Korea, Singapore, and regions in mutual recognition of AEO with China, such enterprises may enjoy the same customs clearance provided by local customs to local certified enterprises. As a senior certification enterprise, NGC enjoys more convenient measures, such as lower frequency in import and export inspection, simplified document approval, and clearance priority, which is practically beneficial to the Company, and conducive to enhancing our global competitiveness.
NGC has always been pursuing the development strategy of “casting an international premier brand within global reach”. In recent years, NGC has been improving its global strategy by setting up operation and maintenance centers and service-based institutions in the Americas, Europe, and the Asia-Pacific region. In line with our growing overseas business operation each year, NGC’s constant exploration of overseas clients has produced results. The senior AEO certification reduces import and export customs clearance time and customs costs with improved efficiency in customer clearance, providing more business and development opportunities for the Company. In addition, this certification also embodies the comprehensive strength of NGC, thereby enhancing the awareness of NGC in the international market, as well as enhancing our brand value. (by Zhang Ruining)