China to integrate customs special supervision areas for economic upgrade

GMT 15:03 2015 Sunday ,06 September

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

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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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