25 Feb 2019
China Looks to Widen Remit of Comprehensive Bonded Zones
The State Council’s recently-issued Several Opinions on Promoting the High-Level Opening Up and High-Quality Development of Comprehensive Bonded Zones aims to accelerate the overall upgrade of the mainland’s comprehensive bonded zones. Ultimately, this will see them established as highly- competitive centres for processing and manufacturing, R&D, design, logistics, distribution, testing and maintenance, and sales services.
In line with this, the directive identified five particular priorities:
- Coordinating the domestic and international markets as a means of nurturing the development of processing and manufacturing centres
- Promoting innovation and entrepreneurship in order to refine the R&D and design functions of such establishments
- Promoting trade facilitation as a means of driving demand for logistics and distribution centres
- Establishing dedicated testing and maintenance centres in order to meet the needs of extended industry chains
- Implementing the wider provision of sales services centres and promoting their role as new growth engines
Overall, responsibility for overseeing and implementing these developments will primarily fall to four existing government bodies – the State Administration of Taxation, the Ministry of Finance, the General Administration of Customs and the Ministry of Commerce.
For further details (in Chinese), please access the following link: