Arab Today, arab today china to integrate customs special supervision areas for economic upgrade
Last Updated : GMT 04:46:44
Arab Today, arab today
Arab Today, arab today

China to integrate customs special supervision areas for economic upgrade

Arab Today, arab today

Arab Today, arab today China to integrate customs special supervision areas for economic upgrade

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Beijing - XINHUA

China will integrate its specially-supervised bonded zones to facilitate and encourage trade in key areas such as the high-tech and high-value added sectors, according to a circular issued by the State Council.

The move aims to promote the transformation and upgrading of the processing sector, facilitate the implementation of major national strategies including the Beijing-Tianjin-Hebei integrated development program and support regional economic development.

Export processing zones, bonded logistics parks, cross-border industrial zones, and the newly-established special supervision areas will all be integrated under the umbrella term comprehensive bonded zones.

These zones will be administered and supervised under a unified model, and businesses including bonded processing, bonded logistics and bonded warehousing services will be promoted.

Enterprises in the special supervision areas are encouraged to develop high-tech, high value-added domestic and foreign maintenance and remanufacturing services, as well as exploring overseas market through cross-border e-commerce, according to the circular.

Since 1990, China has established over 100 customs special supervision areas including bonded zones, cross-border industrial zones and export processing zones, to facilitate cross-border trade and economic development.

 

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