Comprehensive bonded area granted approval
Zhanjiang continues push to open up to overseas markets
Zhanjiang in South China's Guangdong province is further opening up following the approval of the establishment of a comprehensive bonded area by the State Council in late December.
The rubber stamp came on the back of the city being approved to set up a comprehensive experimental zone for cross-border e-commerce in April 2020, injecting great impetus into Zhanjiang's development.
Covering a planned area of 2.09 square kilometers, the bonded area is located in an industrial park of the Xiashan port area, and is the first comprehensive bonded area in western Guangdong.
At its first phase, the area will have 16 projects, with a total investment of 10.79 billion yuan ($1.65 billion), according to local officials.
Ferries dock at Xuwen Port in Zhanjiang, Guangdong province. Xuwen Port has 16 ro-ro berths for 5,000-tonnage cargo and passenger vessels, and one 5,000-tonnage ro-ro berth specially designed for hazardous goods. PENG DECAI/FOR CHINA DAILY
The bonded area plays an important role in promoting the high-quality development of the local economy, said an official at the Zhanjiang Customs Office.
It has a high-level of openness, preferential policies, complete functions and simplified procedures, the official said.
It will also be a center for processing and manufacturing, research and development, design, logistics and marketing, he added.
The area will implement import and export tax policies based on duty-free, bonded services, tax rebates and selective tariffs.
It will also offer services including transit trade, international purchase and port operation.
Zheng Renhao, Party secretary of Zhanjiang, said the accelerated development requires a new pattern of higher-level opening-up.
Zhanjiang will give full play to the comprehensive bonded area to establish a new institution for a more advanced open economy, Zheng said.
He noted the city should seize the opportunities of the recently signed Regional Comprehensive Economic Partnership and encourage more enterprises to participate in the regional cooperation and exchanges in commodities, technologies and services.