SHANGHAI: China’s Customs says it will integrate six categories of specially-supervised bonded zones, under a unified, comprehensive model. Bonded zones are a special customs storage space for traders.
The move aims to facilitate and encourage trade in key areas such as high-tech and high-value added sectors.
China has selected Chongqing and Suzhou as two trial cities for comprehensive bonded zones. In those areas, cross-border e-commerce, bonded logistics parks and export processing zones will all be administered on one platform.
“By using information technology, we are able to apply an automatic examination system. This helps improve our clearance efficiency,” said Fan Shuang, staff, Chongqing Customs Trade Processing Office.
Since 1990, China has established over 120 customs special supervision areas, including bonded zones, cross-border industrial zones, export processing zones, logistics parks, bonded ports and comprehensive zones.
All together they have created a trade volume of 4.2 trillion yuan, or US$700 billion.
The integration move came after the State Council’s recent plan to unify China’s bonded zones.
