China's first bonded zone featuring R&D, innovation begins operation

BEIJING - The Beijing Zhongguancun comprehensive bonded zone, the first in China featuring research and development (R&D) and innovation, started operation on Wednesday.

Located in Beijing's Haidian district, the zone covers 660,000 square meters of industrial space and is dedicated to strategic emerging and future-oriented sectors, including integrated circuits, pharmaceuticals, artificial intelligence and technology services.

A new regulatory model has been implemented in the comprehensive bonded zone to enhance customs efficiency and provide greater convenience for businesses, said Chen Ping, head of Zhongguancun Customs.

As of Wednesday, three companies had settled in this zone.

The establishment of the Beijing Zhongguancun comprehensive bonded zone was officially approved by the State Council in May 2023. It passed its final acceptance review in April 2024, paving the way for full-scale operation.

Beijing is at the forefront of cultivating new quality productive forces in China.

In the field of cutting-edge science and technology, the capital boasts about 43 percent of the country's top talents in terms of artificial intelligence. The city is home to nearly half of the country's academicians from the Chinese Academy of Sciences and the Chinese Academy of Engineering, while there are over 550,000 scientific researchers in Beijing.