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Active Service Begins in the First Comprehensive Bonded Zone in China

SIP Comprehensive Bonded Zone, the first of its kind in China, was officially put into active service on Nov. 20, seen in the smooth functions of the fully-automatic 12-channel intelligent unmanned checkpoints, the 12,000m2 of green, environment-friendly customs-controlled warehouse of international standard, and the round-the-o'clock one-stop service hall. The Zone will serve to accelerate the external-oriented economy of Suzhou and the rest of the Yangtze delta by speedy customs clearance and reduced logistics cost, uplift the comprehensive competitiveness of SIP, and make SIP the first "demonstration park of modern commercial logistic operation based on virtual ports" in China.

The comprehensive bonded zone is currently a special customs-controlled area with the largest degree of openness in China, as well as the primary form of the future free trade zone and free port. Within the planned area of 5.28 square kilometers, the Zone has the functions of bonded logistics, bonded processing, international trade, and port operation, etc., and the incoming foreign goods are under duty bond, the incoming domestic goods enjoy export duty refund, and all transactions of goods within the area are exempted from VAT levies. Enterprises within the zone not only carry out bonded warehousing and processing, but also are permitted to undertake foreign trade, international procurement, distribution, delivery, international transfer, testing, maintenance, commodity display, and research and development.

SIP Comprehensive Bonded Zone is built on the basis of integrating the functions of the Customs Bonded Logistics Center (Type B), Export Processing Zone (Zones A and B), and Weiting Control Checkpoint with relevant policies combined. The Zone will continue to provide all-day customs clearance and one-stop service as before. So far, there have been some twenty pharmaceutical, transportation, shipping, and airline companies registered in the zone.

Nov. 20, 2007

   
 
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