Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Local

Three new comprehensive bonded zones approved in Tianjin

June 10, 2020


Abstract : China's Tianjin Municipality have received approval to set up three new comprehensive bonded areas in its Binhai New Area, according to local authorities.

TIANJIN, June 9 (Xinhua) -- China's Tianjin Municipality have received approval to set up three new comprehensive bonded areas in its Binhai New Area, according to local authorities.

Comprehensive bonded areas are special commercial zones that enjoy favorable taxation policies and are managed by customs officials.

The State Council, China's cabinet, approved the upgrade of the Tianjin Export Processing Zone, Tianjin Dongjiang Free Trade Port Zone, and Tianjin Bonded Logistics Park to comprehensive bonded areas. Now, Tianjin has four comprehensive bonded areas covering 13.41 square km.

As important platforms for an open economy, comprehensive bonded areas are significant to developing foreign trade, attracting foreign investment, and promoting industrial transformation and upgrade, said Liu Xintong, deputy director of Tianjin Customs, Monday at a news briefing.

Taking advantage of the location and policies, the zones will focus on aircraft and ship leasing business, full chains of the automobile import trade, inspection and maintenance industry, service trade, and other industries.

Huang Chunyan, deputy director of the Tianjin Commission of Commerce, said at the news briefing that Tianjin will take advantage of the policies on the comprehensive bonded zones to promote the open economy to a higher level.

Total imports and exports by comprehensive bonded areas across China reached 2.9 trillion yuan (407 million U.S. dollars) in 2019, up 11.9 percent year on year, contributing 30 percent to growth of the country's foreign trade. Enditem

Scan the QR code and push it to your mobile phone

Keyword: China economy Tianjin FTZ comprehensive bonded area

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial