Yantian bonded area approved
2014-February-11 Source: Szdaily web edition
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The State Council has approved the establishment of Shenzhen Yantian Comprehensive Bonded Area, Shenzhen Municipal Economy, Trade and Information Commission announced.

The area will be based on the Yantian port bonded area and Yantian port bonded logistics park, Shenzhen Special Zone Daily reported yesterday. Imported foreign goods will be bonded in the area, allowing storage and potential sale for export without the payment of duties. Domestic goods will be treated as exported in the area and will be eligible for relevant export tax-rebate policies.

Other functions of the area will include bonded warehousing and exhibition, research and development, and manufacturing.

The Yantian port area covered 1.16 square kilometers as of last year, including more than 1,440,000 square meters of factories and warehouses.

The area was home to 301 enterprises and had completed imports and exports worth more than US$148 billion by 2013.

The area achieved an industrial output of 87.1 billion yuan (US$14.3 billion) last year, a 53.8 percent growth from 2012.

Shenzhen’s application for the bonded area status is intended to consolidate and increase the city’s foreign trade capabilities by developing international trade, port logistics, high-tech processing, cross-border e-business and ship-chartering in the area, the paper said.

Editor: Olivia
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