The General Administration of Customs ("GAC") has recently issued the Announcement on Launching the Leasing of Bonded Goods and the Bonded Futures Delivery in Comprehensive Bonded Areas (the "Announcement"), immediately effective from the date of issuance.
Regards the leasing of bonded goods, the Announcement states that enterprises as lessors and lessees shall make a declaration to the customs in accordance with the existing rules, when the goods for lease enter or exit from the comprehensive bonded areas. And the enterprises as the lessees shall go through the formalities in respect of the importation of the leased goods, tax filing for rental, lease renewal, purchase of the leased goods upon expiry of the lease, and changes to the lease contract, with the same customs. Meanwhile, in terms of the imported goods for lease that will be purchased by an enterprise as the lessee upon expiry of the lease, the enterprise shall submit the customs declaration for such imported goods. To the extent of the imported goods for lease indicated on the same import license submitted by the same enterprise, it does not have to furnish the import license again if the license has been provided before. With regard to bonded futures delivery, the Announcement reads that the types of goods involved in the bonded futures delivery should be the varieties that are tradable on the futures exchange and are eligible for bonded futures delivery upon approval of the State Council's futures regulator.