Tianjin Economic Development Area's Bonded Logistics Center Will Begin Operations

USA - English

• USA - English

TIANJIN, China, May 19 /PRNewswire-Asia/ -- A ceremony was held on May 18 to mark the operational start of the custom operations for Tianjin Economic Development Area's Bonded Logistics Center. The event was attended by Li Peilin and Wei Xinping (Commissioner and Vice Commissioner of Tianjin Customs and Excise, respectively), Gu Xu (Deputy Secretary of Tianjin Immigration Inspection and Quarantine Bureau), He Shushan (Development Area's Management Committee Secretary and Director of Management Committee), Ai Yamin (Deputy Director of Development Area's Management Committee), and other officials-in-charge from related units.

In a speech given by He Shushan, he said that since 2004, the Tianjin Economic Development Area has been making efforts to adapt to the development trends in the modern logistics industry and satisfy the logistics and distributional needs of regional businesses. With strong support and cooperation from organizations like the China Customs and China Commodity Inspection Quarantine (CCIQ), the development area completed work related to the application, setting up, and joint inspection and acceptance of the Bonded Logistics Center, finally realizing the official operational start of the center. This will have positive effects on improving the regional investment environment and promoting the development of a modern logistics industry. The development area will fully utilise the Bonded Logistics Centre as a platform to achieve policy functions to further promote the development of a modern logistics industry, increase the overall competitiveness of businesses, and conscientiously provide the best services to businesses within the area, so as to make greater contributions towards the rapid development of Tianjin city and Binhai New Area.

Tianjin Economic Development Area's Bonded Logistics Center was funded and built by the Tianjin Development Area Management Committee after it was approved by the General Administration of Customs on December 26, 2008. It was officially inspected and approved by a joint inspection team formed by the General Administration of Customs, Ministry of Finance, State Administration of Taxation (SAT) and State Administration of Foreign Exchange (SAFE).

The Bonded Logistics Center is located in the North-western side of Tianjin Economic Development Area. It has an overall planned area of 900,000 square meters, with the following four landmark boundaries: north boundary delineated by 7th Avenue of the development area, west boundary delineated by Bohai Road, east boundary delineated by Jingshan railway line and south boundary delineated by 13th Avenue. The planned floor area for stage 1 is 220 000 square meters, located within the four landmark boundaries. During stage 1 the total planned construction floor area is 100,000 square meters. Currently, an area 30,000 square meters has been used and built into warehouse facilities.

The official operational start of Development Area's Bonded Logistic Center will make the investment environment more conducive in the Tianjin Economic Development Area and also increase its regional competitiveness. Development can be carried out in areas such as the storage of import and export cargo and other cargo awaiting customs clearance, simple processing for stored cargo will provide value-added service, global purchasing and international distribution and delivery, re-distribution and international transit, and all other international logistics businesses that are approved by Customs and Excise. The Center will enjoy special preferential policies like port functionality and export tax rebates policies, which will facilitate trade processing as it will increase the re-distribution of processed cargo between enterprises. In addition, domestic goods entering the Bonded Logistic Center will be subjects under the tax rebate zone so that they will not be forced to spend an unnecessary day offshore, thereby reducing the operating costs of enterprises. At the same time, the center provides a platform for the workings of international distribution, delivery, purchasing and international transit, and has an advantage in promoting enterprises' new business development, reducing logistics costs and increasing the efficiency of logistics.

SOURCE Tianjin Economic-Technological Development Area