GBA foreign trade worth USD2.5 trillion, 5 pct of global trade – Customs tsar

Foreign trade produced by the Greater Bay Area including Hong Kong and Macau accounted for 5 per cent of global trade volume, with its worth totalling some USD2.5 trillion (MOP20.2 trillion), the country’s customs chief claimed.

The revelation came from Yu Jianhua, the head of the General Administration of Customs, who attended a press conference held by the State Council yesterday.

It was the latest in a series of orchestrated briefings for high-ranking officials to deliver policy messages, with the first session held around the opening of the country’s annual get-together for lawmakers and political advisors from across the nation earlier this month.

Yu said that the Greater Bay Area, including Hong Kong and Macau, managed churn out foreign trade worth some USD2.5 trillion – or a 5 percent share of the global total.

“In other words, the GBA is one of China’s most open and vigorous districts,” the official opined.

During the press conference, the 61-year-old also pledged to cut customs red tape by further developing existing measures.

Under one major measure, freight being transported between the Chinese mainland and the two SARs by land are being monitored with an electronic lock that contains customs information centralised and updated by one single system that keeps taps on their movements nationwide.

It saves the hassle of unpacking and inspection upon arrival at respective checkpoints, he stressed.