Trade firms get ID in China

Trade firms get ID in China

BEIJING (AFP): China will issue digital identity cards (ID) to
foreign trade enterprises in a further move to control fraudulent
foreign exchange transactions, the official China Daily reported
Wednesday.

The report said the ID cards, which would be issued from Jan.
1, had to be used in all customs transactions.

Banks and foreign exchange bureaus will be able to
authenticate declaration forms by verifying related information
through a unified national network linking Customs offices, the
report said.

The move, announced Tuesday at a national conference sponsored
by the State Foreign Exchange Bureau and the General
Administration of Customs, was designed to eliminate fraud
related to illegal purchases of foreign currencies from banks,
officials said.

The lack of effective communications between customs offices,
banks and foreign exchange bureaus had enabled some businesses to
forge customs declaration forms or other documents needed to
obtain foreign currencies.