BIS Suspends Certain Hong Kong Export License Exceptions

Posted by Queena Lau
Blog originally posted on 06/07/2020 08:00 PM

HKG2

Further to our recent post on the key implications of the U.S. revoking Hong Kong’s ‘special trade status’, the Bureau of Industry and Security (BIS) announced on June 30, 2020, that it is suspending license exceptions for goods that were previously subject to differential treatment than license exceptions available to Mainland China. 

This applies to exports, re-exports, or transfers of goods to or within Hong Kong.  The rule came into effect on the same day, but does not impact goods were already on the dock for loading, already loaded, or already en route on this date. 

Goods that are deemed for export or re-export transactions (subject to meeting certain criteria) are also exempt from this requirement until August 28, 2020, after which the license exception would no longer apply.

Companies that are planning on shipping strategic commodities to Hong Kong from June 30, 2020, onwards should obtain the relevant Export License and pay attention to relevant restrictions as announced by the BIS.

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Topics: Hong Kong

Blog originally posted on 06/07/2020 08:00 PM

Queena Lau

Written by Queena Lau

Queena manages our Tradewin Hong Kong team and has over 10 years of AP regional trade compliance experience. In her current role, Queena also supports the Taiwan market, assisting businesses to understand and navigate US Customs requirements. Prior to joining Tradewin in 2017, Queena worked in the customs and trade practice of a Big 4 firm in Shanghai and Hong Kong. Queena has experience in customs defense and planning projects in the areas of customs valuation, origin, duty savings optimization, and supply chain trade compliance management. Apart from strategic consulting, she also manages regional trade operations services that add value to companies’ day-to-day supply chains and overall trade compliance. Queena is a speaker at external events, and has held multiple workshops on regional trade compliance topics. She was a co-author for one of the sections in the book Governance, Risk and Compliance Management in China for German companies. Queena graduated from the University of New South Wales with double majors in Business Economics and Finance. She is also a certified member of CPA Australia.