Ordos Comprehensive Bonded Zone [Photo/Ordos Release]

The Ordos Comprehensive Bonded Zone completed a total of 19.07 million yuan ($2.86 million) in import and export trade in October – year-on-year growth of 681.8 percent, according to a document issued by the General Administration of Customs on Nov 23.

The Ordos bonded zone started operating in March 2019, becoming the first comprehensive bonded zone in the Hohhot-Baotou-Ordos-Yulin urban agglomeration. It is a special customs supervision area with the highest level of openness, most preferential policies, most complete functions and the most simplified procedures in China.

It takes bonded processing, bonded logistics and bonded services as its primary development directions and relies on the city’s equipment manufacturing and cashmere products industries’ industrial development advantages. The zone also uses the export-oriented economic characteristics of the surrounding areas to formulate industrial development plans.

To date, there are 57 contracted projects in the Ordos Comprehensive Bonded Zone, with a contracted capital of 14.8 billion yuan. The bonded zone also has 46 registered enterprises, with a registered capital of 490 million yuan.