TRANSPORT & LOGISTICS | Staff Reporter, Hong Kong

Government caps import and export declaration charge at $200

The move can save as much as $458m annually.

The Legislative Council passed an amendment to the Import & Export (Registration) Regulation capping the charge for each import and export declaration at $200.

The measure will apply to all goods imported, exported or re-exported from August 1.

Also read: Exports up 8.1% to $330.2b in April

The move is a welcome development to boost the local trading and logistics industry as lower operating costs of trade activities will encourage the industry to move up the value chain, secretary for commerce & economic development Edward Yau said in a statement. 

Also read: Alibaba's Cainiao to invest US$1.53b in Hong Kong logistics center

Capping the charge is set save $458m a year as well as benefit 900,000 cases involving goods at a value above $1.644m. The arrangements for the lodgement of the charge for each import and export declaration, and payment of charges will remain unchanged. 

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