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Bonded areas shift towards free trade zones

By Long Guoqiang, Lv Gang 

Date: 2003/04/30

Abstract:

The initial function of bonded area in China was focused on logistics. Over the past ten years, some satisfactory results have been achieved in the 13 bonded areas in China in terms of foreign investment introduction, the expansion of international trade and the prosperity of local economy. But due to limited conditions, relevant policies for bonded areas are not fully implemented and the present function of bonded areas are overlapping that of some other special economic zones. In order to adapt to the new situation in which the volume of China's import and export and the scale of container transportation are rapidly increased and raised, those bonded areas with adequate conditions should shift their functions towards that of free trade zones so as to fully exploit the function of logistics and promote the construction of the international key ports in China.