Comprehensive bonded area granted approval

Zhanjiang continues push to open up to overseas markets

Zhanjiang in South China's Guangdong province is further opening up following the approval of the establishment of a comprehensive bonded area by the State Council in late December.

The rubber stamp came on the back of the city being approved to set up a comprehensive experimental zone for cross-border e-commerce in April 2020, injecting great impetus into Zhanjiang's development.

Covering a planned area of 2.09 square kilometers, the bonded area is located in an industrial park of the Xiashan port area, and is the first comprehensive bonded area in western Guangdong.

At its first phase, the area will have 16 projects, with a total investment of 10.79 billion yuan ($1.65 billion), according to local officials.

The bonded area plays an important role in promoting the high-quality development of the local economy, said an official at the Zhanjiang Customs Office.

It has a high-level of openness, preferential policies, complete functions and simplified procedures, the official said.

It will also be a center for processing and manufacturing, research and development, design, logistics and marketing, he added.

The area will implement import and export tax policies based on duty-free, bonded services, tax rebates and selective tariffs.

It will also offer services including transit trade, international purchase and port operation.

Zheng Renhao, Party secretary of Zhanjiang, said the accelerated development requires a new pattern of higher-level opening-up.

Zhanjiang will give full play to the comprehensive bonded area to establish a new institution for a more advanced open economy, Zheng said.

He noted the city should seize the opportunities of the recently signed Regional Comprehensive Economic Partnership and encourage more enterprises to participate in the regional cooperation and exchanges in commodities, technologies and services.

High-quality development

As a junction of the Guangdong-Hong Kong-Macao Greater Bay Area, the Hainan Free Trade Port, the Beibu Gulf Economic Zone of the Guangxi Zhuang autonomous region and the new western land-sea corridor, Zhanjiang is trying to become a subcenter city in Guangdong province, in hopes of contributing to the development of the modern coastal economic belt.

In recent years, the city has welcomed major projects, many with an investment of over $10 billion, including a refining project from Sinopec Group.

These projects provide great opportunities to Zhanjiang and require a higher-standard platform to support a new round of opening-up, local officials said.

The comprehensive bonded area is such a platform to help Zhanjiang integrate into the greater Bay Area, the Hainan Free Trade Port and the Beibu Gulf city cluster, thus creating a development platform with more advantages.

As a coastal city, Zhanjiang boasts rich maritime resources. The city said it will utilize the preferential policies of the comprehensive bonded area to attract more investors in the maritime industry in an effort to increase economic added value as well as to promote the transformation and upgrading of relevant industries in Zhanjiang and even in western Guangdong.

Trade and cooperation

As a port city with the shortest sea routes to Southeast Asia, Europe, Africa and Oceania in the Chinese mainland, Zhanjiang has huge economic potential.

The comprehensive bonded area helps Zhanjiang to integrate into the international ocean economic system to deepen its trade cooperation with those countries while also attracting transnational manufacturing corporations and promoting international exchanges, local officials said.

As a pilot area for Guangdong province to participate in the cooperation among the Association of Southeast Asian Nations, Zhanjiang has welcomed some 20 enterprises from ASEAN members and founded 11 companies in these countries in recent years.

The bonded area will provide strong support for the city in communicating with ASEAN members, local officials said.

It will utilize international and domestic markets to promote trade and investment between China and ASEAN members, according to local officials.

Ferries dock at Xuwen Port in Zhanjiang, Guangdong province. Xuwen Port has 16 ro-ro berths for 5,000-tonnage cargo and passenger vessels, and one 5,000-tonnage ro-ro berth specially designed for hazardous goods. PENG DECAI/FOR CHINA DAILY

The comprehensive bonded area in Zhanjiang is helping the city to further open up. CHINA DAILY