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State Council calls for development of bonded zones

Updated: Jan 25,2019 9:10 PM

The State Council recently issued a circular, outlining plans for the increased development of bonded zones.

Comprehensive bonded zones, according to the circular, need further innovation and upgrading, along with more contributions to opening-up, in a bid to let bonded zones blossom into international hubs of manufacturing, research and development (R&D), design, and maintenance.

Manufacturing enterprises will be allowed to engage in overseas projects with their spare capacity, the circular said.

A number of items produced inside the comprehensive bonded zones will be exempt from the cargo-handling list for automatic import licensing, including key products like mobile phones and automobile accessories, to facilitate their domestic sales.

With preferential policies in comprehensive bonded zones, departments concerned should support the development of national centers for industrial innovation, technical innovation, and engineering research, as well as emerging R & D institutions inside the zones.

Logistics distribution centers should be established, with trade procedures further simplified inside the bonded zones.

Goods not subject to import tariffs, trade restriction certificates, and tax reimbursement, will have an easier journey entering and exiting the bonded zones.

Enterprises in bonded zones will be allowed to conduct high-technology and high added-value tests and global maintenance services.

Remanufacturing operations will be allowed in the bonded zones, including aerospace and engineering machinery, according to the circular.

Centers for marketing services will be established to cultivate new drivers of development, the circular said.

Cross-border e-commerce, outsourcing services, and future delivery will also be encouraged in the bonded areas.