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What is a buffer fund?

Buffer Fund, Equalization Fund:

GSP, or Generalized System of Preferences (GSP) for short, is a tariff system, in which developed countries (preference-giving countries) give preferential treatment of reducing or exempting certain suitable products from developing countries (beneficiary countries). China is a developing country. At present, 22 countries, including Britain, France, Germany, Italy, Netherlands, Luxembourg, Belgium, Ireland, Denmark, Greece, Portugal, Spain, Japan, Norway, New Zealand, Australia, Switzerland, Sweden, Finland, Austria, Canada and Poland, have implemented the GSP system for China. D*z*Q? (o{& I! Y(v

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According to the regulations of most preference-giving countries, the GSP certificate of origin signed by the institution designated by the government of the beneficiary country is required to enjoy the GSP (note: the Chinese government has designated local export commodity inspection institutions to issue GSP certificates of origin). Goods enjoying GSP treatment must meet the following conditions: (1) Standard of origin. All commodities can be divided into two categories, one is "complete origin", that is, the commodities are completely produced or manufactured by the beneficiary countries without using any imported raw materials or parts; The other category is products produced by using all or part of imported raw materials or parts (including raw materials and parts of unknown origin). From the perspective of GSP, in order to enjoy GSP tariff, the goods exported by beneficiary countries must be produced and manufactured in beneficiary countries, and the imported raw materials or parts used must be fully processed, so that these imported raw materials or parts have been substantially changed or meet other conditions put forward by preference-giving countries. (2) Goods should conform to the principle of direct transportation. That is to say, export commodities must not only be produced or manufactured in beneficiary countries, but also be directly transported from beneficiary countries to preference-giving countries. Those who pass through the transit country must be under the customs supervision of the transit country, and they are not put into the local market for sale or delivery for local use, let alone be reprocessed there. (3) Effective supporting documents must be provided. That is, GSP certificate of origin (joint declaration and certification) format A, referred to as GSPFORMA, and other relevant documents. FORMA certificate of origin is a legal certificate that the original products of beneficiary countries enjoy preferential treatment of tariff reduction or exemption when exported to preference-giving countries. FORMA certificate of origin is different from general certificate of origin, which is called C/O for short. The general certificate of origin is a valid certificate for enjoying the most-favored-nation treatment, while the certificate of origin of the GSP FORMA is a valid certificate for enjoying the reduction or exemption of the GSP. According to the GSP visa management measures formulated by the State Commodity Inspection Bureau and its implementation rules, domestic enterprises have the right to import and export; Sino-foreign joint ventures, Sino-foreign cooperation and wholly foreign-owned enterprises; Permanent representative offices of foreign enterprises and trading companies in China; Enterprises that undertake processing with supplied materials, processing with drawings and samples, assembling with supplied parts and compensation trade; The sales department that deals in tourist commodities; Relevant units that need to sell exhibits and samples to participate in international economic and cultural exchanges and auctions may apply to the local commodity inspection authorities for visas for GSP certificates of origin. The basic procedures for applying for a GSP certificate of origin visa are: 1. Registration. The enterprise (company) applying for issuing the certificate of origin of GSP shall go through the registration formalities with the local commodity inspection authorities in advance. The following documents must be submitted for registration: (1) approval documents for export business; (2) Business license issued by the State Administration for Industry and Commerce; (3) A power of attorney signed by the legal representative of the visa application unit, entrusting the personnel of the unit to handle the GSP certificate of origin application and hand-signing, and two recent photos of the entrusted hand-signer bareheaded and half-length. The above documents, after preliminary examination by the commodity inspection authorities, shall be issued with the Registration Form for Applying for Issuing the Certificate of Origin of GSP and the Registration Card for the Declarer of the Certificate of Origin of GSP FORMA in duplicate, which shall be truthfully filled in by the applicant and submitted to the commodity inspection authorities for examination within the specified time. The commodity inspection authorities will approve the registration after confirming that the unit has the qualification to apply for a visa, and the applicant shall pay the prescribed registration fee at the same time. After that, the commodity inspection authorities will conduct business training for GSP applicants within a specified period of time, and issue declaration documents after passing the examination. The applicant can apply for a GSP visa with the local commodity inspection authorities in the current year. The commodity inspection authorities at the place of registration shall review the registered units and applicants for manual signing every two years.

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R7bwy! R p 2. apply for a certificate. The applicant shall go to the commodity inspection authorities five days before the shipment of this batch of goods to handle the application. When applying, you should generally submit: (1) An Application for Certificate of Origin of GSP; (2) One copy of export commercial invoice; (3) A packing list; (4) A set of GSP certificate of origin; (5) To apply for a visa for export commodities containing imported ingredients, the applicant shall fill in the Detailed List of Costs of Commodities Containing Imported Ingredients; (6) Other relevant documents (such as letters of credit, contracts, customs declarations, etc.) that the commodity inspection authorities deem necessary, and truthfully answer the relevant questions raised by the commodity inspection authorities. For the units applying for visas for the first time, the commodity inspection authorities will send personnel to the production site for routine investigation. For units that do not apply for visas for the first time, the commodity inspection authorities may send personnel to conduct spot checks on the production enterprises of products if they have doubts about the contents of the declaration or think it necessary. After the above investigation, the commodity inspection authorities will fill in the Investigation Record of GSP Visa for Export Enterprises (or Manufacturers) as the basis for approving the visa. Units under investigation or spot check have the obligation to actively assist commodity inspection personnel in checking and provide necessary information, certificates and working conditions.

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Third, issue certificates. The commodity inspection authorities shall, on the basis of investigation or spot check, examine the relevant documents submitted by the applicant one by one, and issue the GSP Certificate of Origin after it is found to be correct, and submit it to the applicant. [Note] 1. When all or part of the raw materials or spare parts used in the products are imported from Canada, Australia, New Zealand and Japan, and the products are sold to these four countries, and they can enjoy GSP preferential treatment according to the regulations, the applicant shall also provide the export commercial invoices of the relevant raw materials and spare parts issued by the companies or trading companies of these four countries. A6\ G2M:hX }8a

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