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Yangshan bonded zone to promote higher-standard opening-up

en.sww.sh.gov.cn| Updated: Jun 9, 2020 L M S


Containers at the Yangshan Special Comprehensive Bonded Zone in Shanghai, East China, on March 18, 2020 [Photo/Xinhua]

The "Several Opinions on Promoting the Opening-up and Innovative Development of Yangshan Special Comprehensive Bonded Zone" was released recently.

According to the opinions, Yangshan Special Comprehensive Bonded Zone will implement high-standard trade liberalization and facilitation policies and systems, and promote cross-border financial innovation and development.

Customs will not require enterprises in the bonded zone to set up separate customs account books, which will be exempted from routine customs supervision. Enterprises in the zone will be subject to self-regulation, and customs will not interfere with the normal business activities of the enterprises.

The bonded zone will also expand international supply chain management services, consolidate and improve modern logistics services, and foster and develop its international transit consolidation business.

Yangshan Special Comprehensive Bonded Zone was inaugurated in Shanghai on May 16, 2020. It is the only special comprehensive bonded zone among 151 special customs supervision areas in China.