Question: Our deposit bank is a US bank, will the GACC (General Administration of Customs of China) accept the L/G (letter of guarantee) issued by it?

Answer: If your deposit bank has been approved to conduct financial operations in the mainland of China, as per the provisions of the Announcement of the GACC on the General Bond for the Customs Protection of Intellectual Property Rights, the GACC may accept the L/G for the general bond issued by the said bank.