What is processing trade in SAP SLL - Global Trade Services?

SAP Term: processing trade

• Component: SLL

• Component Name: Global Trade Services

• Description: A customs procedure in the People's Republic of China, which differentiates between paper-based and electronic processing trade. Finished products are assembled from individual components while under customs supervision. Processing trade takes place in a specifically defined district and must be authorized by the customs authority. In addition to processing trade, China also uses other customs procedures such as general trade.

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• Key Concepts: 
  Processing trade is a type of international trade that involves the import of raw materials or components from one country, processing them into finished products, and then exporting them to another country. Processing trade is a form of international trade that is beneficial to both the importing and exporting countries. It allows the importing country to access goods and services that it would otherwise not be able to obtain, while the exporting country can benefit from increased employment opportunities and foreign exchange earnings. The SAP SLL Global Trade Services component provides a comprehensive solution for managing processing trade transactions. 
  
  How to use it: 
  The SAP SLL Global Trade Services component enables companies to manage their processing trade transactions in an efficient and cost-effective manner. It provides a range of features such as document management, compliance management, and risk management. It also provides tools for tracking shipments, managing customs clearance, and monitoring the progress of processing trade transactions. 
  
  Tips & Tricks: 
  When using the SAP SLL Global Trade Services component, it is important to ensure that all documents are accurate and up-to-date. This will help to ensure that all processing trade transactions are compliant with applicable laws and regulations. Additionally, it is important to ensure that all shipments are tracked in order to monitor the progress of processing trade transactions. 
  
  Related Information: 
  For more information about the SAP SLL Global Trade Services component, please visit the SAP website at https://www.sap.com/products/global-trade-services.html. Additionally, there are a number of online resources available that provide detailed information about processing trade transactions and how to manage them using the SAP SLL Global Trade Services component.