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Improving guarantee method for Free Yacht Scheme

Gongbei Customs has introduced 10 policies to support the economic development of Hengqin, one of which relates to the improvement of guarantee methods for the Macau-Zhongshan Free Yacht Scheme, reported TDM Radio News. A Gongbei Customs official said that yachts from Macau are required to pay large amounts as a deposit when entering the Mainland, […]

Gongbei Customs has introduced 10 policies to support the economic development of Hengqin, one of which relates to the improvement of guarantee methods for the Macau-Zhongshan Free Yacht Scheme, reported TDM Radio News.
A Gongbei Customs official said that yachts from Macau are required to pay large amounts as a deposit when entering the Mainland, putting significant financial pressure upon yacht owners. Chinese Customs is currently exploring new guarantee methods including changing policies so that the deposit and legal responsibilities can be undertaken by industry associations or a third party.
Currently there are no specific decisions for the method of implementation or the amount of deposit.

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