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Shanghai Jiading Export Processing Zone in Jiading district, Shanghai, is approved by the State Council to be upgraded to a comprehensive bonded zone. [Photo/jiading.gov.cn] |
Shanghai Jiading Export Processing Zone in Jiading district, Shanghai, was approved by the State Council to be upgraded to a comprehensive bonded zone to promote the high-quality development of Jiading, local media reported Oct 28.
Authorities said that comprehensive bonded zones are special customs oversight areas which enjoy the highest level of openness, most preferential policies and simplest procedures. They are designed to carry out services which integrate bonded logistics and export processing, and can develop businesses such as international transit, distribution, purchasing and transit trade.
The newly approved Jiading Comprehensive Bonded Zone, covering a planning area of 0.95 square kilometers, mainly focuses on manufacturing engineering, bonded logistics, bonded repairing and cross-border e-commerce.
Statistics show that the foreign trade value of the zone hit 6.73 billion yuan ($1 billion) in 2019, and the trading volume of the zone's cross-border e-commerce industry totaled 1.16 billion yuan.
The Jiading government also launched an array of supportive measures to promote the innovative development of the zone, especially in the high-end manufacturing sector, including automobile manufacturing, intelligent sensors, the internet of things and precision medicine.