The establishment of Jinan Zhangjin Comprehensive Bonded Zone is officially approved by the State Council on May 26. [Photo/dzwww.com]

The establishment of Jinan Zhangjin Comprehensive Bonded Zone was officially approved by the State Council on May 26.

After completion, the area will become the second bonded zone in the city following the Jinan Comprehensive Bonded Zone.

With a planned area of 1.52 square kilometers, the area is strategically located in the China (Shandong) Pilot Free Trade Zone Jinan Area, connecting Jinan Central Business District, Hanyu Golden Valley business center and Wanda cultural tourism city.

The zone will focus on the R&D of software, supporting facilities, and pharmaceuticals, as well as international trade and supply chain finance industries.

The newly-approved bonded zone will greatly promote foreign trade, push forward the city's opening up, and help boost the development of neighboring areas in the city.