In line with the central government’s requirements to ensure stable trade flows and foreign investment growth amid the COVID-19 outbreak, the General Administration of Customs of China (GACC) rolled out 6 measures on February 25 to support quality development and a higher level of opening-up of comprehensive bonded zones (CBZs):
1. Support the prior establishment of CBZs in pilot free trade zones (FTZs) to strengthen FTZs’ development; and support the establishment of CBZs in eligible national-level new areas, economic and technological development zones, and high-tech industrial development zones to multiply their strengths.
2. Prioritize the establishment of new CBZs in the central and western regions to boost regional opening-up, while continue to encourage the fast-growing eastern region to set up CBZs. Accelerate the transformation and upgrading of other types of customs special control areas such as bonded port areas into CBZs to expand policy coverage.
3. Encourage more remanufacturing and equipment maintenance companies around the world to establish facilities within CBZs to enable diversified development.
4. Innovate customs control mode in CBZs. Exercise online supervision over enterprises that meet certain customs supervision conditions and use management systems such as Enterprise Resource Planning (ERP) and Warehouse Management System (WMS).
5. Step up efforts to help enterprises in CBZs to improve their credibility. Expedite the approval process for enterprises applying for Advanced Certified Enterprises, and help more enterprises to be certified as Authorized Economic Operators (AEO).
6. Promote online customs services in CBZs. Handle registration and information update of the enterprises online.
A comprehensive bonded zone is a customs special control area abundant in preferential policies for foreign trade and simplified formalities established by the Chinese government with reference to the free trade zones (parks) that are commonly used internationally.
In 2019, the value of imports and exports of China's CBZs amounted to 2.9 trillion yuan , which was up 11.9% year-on-year, 8.5 percentage points higher than the nation’s total foreign trade growth; accounted for 9.2% of the nation's total foreign trade volume, up 0.7 percentage point year-on-year; and contributed 30% to China’s foreign trade growth.
CBZs have played a significant role in driving China’s opening-up and economy, particularly in serving relocation of industries to the central and western regions and industrial upgrading in the eastern region.
General Administration of Customs of the People's Republic of China
Address: No.6. Jianguomennei Avenue, Dongcheng District, Beijing, China Postcode: 100730