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New govt. policies look to stimulate free trade zone in Shenzhen

2015-July-22       Source: Szdaily.com

New policies meant to stimulate the development of the Shekou-Qianhai Free Trade Zone were introduced yesterday by the Shenzhen Entry-Exit Inspection and Quarantine Bureau.

New policies meant to stimulate the development of the Shekou-Qianhai Free Trade Zone were introduced yesterday by the Shenzhen Entry-Exit Inspection and Quarantine Bureau.

The policies focus on e-commerce and collaboration between Shenzhen and Hong Kong.

Exports in the Qianhai area from online sales quadrupled during the first half of this year to over 2 million packages, bureau officials said at a press conference yesterday.

The press conference was held to brief the media about the bureau’s work in the first half of the year.

To cut the transit time of packages, the bureau is using third-party agencies for inspections and encouraging companies to do self-inspection.

The bureau also put in place policies to enhance trade between Hong Kong and Shenzhen. With new inspection methods introduced for Hong Kong traders who store goods in Shenzhen, the transport time for goods to enter warehouses has been reduced from eight hours to 1.5 hours.

“With the sales season of moon cakes approaching, some Hong Kong manufacturers like Maxim and Taipan will store their moon cakes in Qianhai because of the lower storage costs before selling them back to Hong Kong,” said Liu Zhiguang, director of the bureau’s food inspection supervision.

Qu Haifeng, the bureau’s vice head, said the Shekou Free Trade Zone could draw on Shanghai’s experience but still maintain its own advantages. “Shekou Free Trade Zone is overlapped with the Qianhai Bay bonded port area and the Hong Kong-Shenzhen modern service industry zone, which is quite different from Shanghai,” Qu said.

The Shekou Free Trade Zone got a boost as a logistic hub with a reduction of tariffs and new rules allowing products to be repaired in the area.

Over the first six months

● More than 440,000 batches of cross-border goods worth about US$27.16 billion were inspected by the entry-exit bureau.

● The value of imported goods increased by 10.5 percent over the same period last year, while the amount of imported goods increased by more than 1 percent.

● About 12,000 batches of goods failed to meet import-export standards.

● The number of border crossings reached 117 million, an increased of 8.1 percent over last year.

● For four years in a row, the number of border crossings passed 100 million.

● The bureau issued 430,000 certificates showing goods were produced inside China, a drop of 3 percent from last year.

● About US$10.75 billion worth of certified China-made goods were exported, a year-on-year increase of 4.1 percent.

● Checkpoints in Shenzhen imported and exported the most fruit in China.

● The value of imported wheat and wine both ranked second highest in China.

Editor: Will

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