The Yangshan Special Comprehensive Bonded Area (Phase One) on Tuesday became the only special comprehensive bonded area among China’s 151 customs special supervision zones after passing an inspection by eight national departments and commissions.
Covering 25.32 square kilometers, the bonded zone includes the land area of former Yangshan bonded port and Phase 1 to 4 of the Yangshan deepwater port totaling 14.27 square kilometers.
According to the requirements of the Lingang New Area, the Yangshan Special Bonded Area will become a major carrier of the competitive free trade industrial park in line with international standards.
Unnecessary trade supervision and approval procedures will be canceled to realize high-level trade liberation. For example, entry and exit of cargo can be done without going through filing procedure. Quarantine inspection can also be carried out inside the bonded area rather than at port.
