Irvine transport and supply chain management company BAX Global last month grabbed the first-ever Class A award from Chinese Customs in China’s Xiangyu Free Trade Zone. By winning this award, BAX will get faster release of goods, duty and tariff reductions, tax refunds and other benefits.
BAX, which operates in China as BAX Global Xiamen, won the award by operating continuously in the trade zone the required minimum of two years, by strictly adhering to customs and legal operations, and by maintaining “a strong company image,” according to Xiamen Customs officials presenting the certificate.
For the past two years, BAX Xiamen trade quantities have been the equivalent of 60% of total Xiangyu Free Trade Zone trade, according to customs officials in China.
The Class A certification was designed by Chinese Customs to encourage companies to improve controls so it can provide faster and better quality service.
BAX Global is a subsidiary of Richmond, Va.-based The Pittston Co., and last fiscal year brought in $2 billion in revenue. The company has more than 500 offices in 123 countries.
