BEIJING -- China-Mongolia cross-border economic cooperation zone, a crucial bolster of China-Mongolia-Russia economic corridor, is witnessing a steady progress in its construction, according to the municipal government of Erenhot, China's largest port city open to Mongolia.
In 2015, China and Mongolia have agreed to respectively dedicate 9 square km on each side of their border to a joint economic zone, which comprises land in Erenhot and Zamyn-Uud across the border. In May 2016, China and Mongolia have formally agreed on a comprehensive planning about the economic cooperation zone.
At present, Mongolia has completed the feasibility study report and risk assessment report, while China has finished the general and industrial planning.
Before the end of 2016, over 50 wood and animal processing enterprises in China and Mongolia are expected to settle down on the zone, with tariff on products to be reduced from 6.5 percent to zero.
China-Mongolia cross-border economic cooperation zone is a comprehensive platform integrating international trade, logistics and warehousing, e-commerce, tourism and entertainment, as well as international finance.
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