Tianjin Customs District revealed on September 11 that Tianjin ZhongXingDa Automobile Trade Company Limited got a USD50,000 loan from China Everbright Bank by pledging to the Bank its goods (parallel-imported automobiles) warehoused in Dongjiang Bonded Port Area.

This followed the publication of China Customs’ first regulation on June 13 that enterprises are permitted to pledge their bonded warehoused goods in Dongjiang Bonded Port Area to financial institutions for loans.

This measure sets rules for pledging bonded warehoused goods in customs special control areas, with an aim to help solve small-medium enterprises’ difficulty in financing, and enable financial institutions to better support the real economy. Its implementation marks a new step on Tianjin’s track to become a hub in north China for import trading and inter-modal logistics distribution inclusive of cargo, storage, processing, delivery and financial services.