Logistics zone accepted as comprehensive
Waigaoqiao Bonded Logistics Zone has become the Waigaoqiao Comprehensive Bonded Zone, the city’s ninth such zone, the customs said on Tuesday.
The zone, over a square kilometer with 700,000 square meters of warehouses passed the acceptance test after eight local departments, including the development and reform commission, commerce commission and market supervision bureau, checked the basic construction, monitoring system and controlled area for the customs in the area.
The Waigaoqiao Bonded Logistics Zone in the Pudong New Area, established in 2004, is the first zone of its kind in China.
After more than four months’ transformation, the comprehensive bonded zone can provide more preferential policies to support companies in the area.
For example, they can have tax cuts without a one-year investigation. And companies are allowed to process goods from other places outside the zone in the Chinese mainland.