July 21, 2020

Bonded area firms named for foreign trade support

Altogether 14 enterprises from Shanghai’s bonded area were recently listed as key enterprises that will get support for international trade distribution service, accounting for 70 percent of the total number in the city.

Shanghai will support the listed enterprises by optimizing resource allocation, accelerating infrastructure construction and improving the cross-border business environment.

In recent years, the boned area has established a number of professional trade platforms for alcohol, automobile, medical equipment and other industries to enhance management of foreign trade.

In the first five months, Shanghai’s bonded area realized foreign trade volume of 412.5 billion yuan (US$59 billion), up 3.4 percent from a year earlier despite the novel coronavirus epidemic.