Baosteel Resources Holding (Shanghai) Co – a subsidiary of the Baosteel Group, the most competitive steel complex in China – recently secured coveted Authorized Economic Operator, or AEO certification.

The accomplishment brings the total count of AEO enterprises in East China's Shanghai to 500.

AEO is a partnership program established by the European Union between the customs authority and economic operators.

The benefits of AEO certification are said to be far-reaching. Once mutual recognition is established, Chinese AEO enterprises exporting goods to partner countries or regions enjoy streamlined customs measures implemented by local authorities during the clearance process.

This not only effectively reduces trade costs across various facets – including ports, insurance and logistics – but also serves to enhance international competitiveness.

Most notably, it is widely said to safeguard the security and stability of industry supply chains.

Among the 500 AEO enterprises in Shanghai, 56 have been added just this year, underscoring the growing prominence of this accreditation.

The positive trend is in sync with the robust performance of Shanghai's import and export sector in the first 10 months of this year – generating a total value of 3.51 trillion yuan ($ 491.78 billion), up 1.9 percent on last year.