According to customs statistics, the total import and export value of the Shanghai Waigaoqiao Free Trade Zone in 2024 reached a new high of 1.04 trillion yuan (US$142.66 billion), a year-on-year increase of 4.6 percent.
Imports and exports grew by 3.8 percent and 6.9 percent, respectively, accounting for 24.5 percent of Shanghai's total import and export value. The Shanghai Waigaoqiao Free Trade Zone has ranked first in performance among national comprehensive bonded zones for four consecutive years.
In July 2024, the Shanghai Waigaoqiao Free Trade Zone's public service platform for biomedicine imports and exports was launched. Biomedicine-related products entering from the port can undergo centralized inspection here. The well-equipped storage and temperature control facilities provide suitable conditions for inspection, ensuring efficient and smooth customs clearance, and maintaining continuity in bonded research and development and pharmaceutical logistics.
"We actively implement the 'white list' policy for importing biomedical research materials and continuously promote facilitation measures such as the 'one certificate, multiple batches' for pharmaceuticals, helping companies alleviate financial pressure, expand imports, and support the development of Waigaoqiao's biomedical specialty industrial park and the international medical device smart base in the bonded area," said Yu Huake, head of the second comprehensive business section at Waigaoqiao Customs.
In 2024, the value of R&D imports and exports in the zone was 232 million yuan, accounting for 77.8 percent of Shanghai's total, while the import and export value of pharmaceuticals and medical devices was 139.799 billion yuan, accounting for 68.0 percent of Shanghai's total.
At the Shanghai International Artwork Bonded Service Center, a private event centered around the works of Salvador Dalí is proceeding in an orderly manner. Interested buyers and art enthusiasts from within the country can closely admire the masterpieces of the art master in the bonded warehouse.
"We leverage the functional advantages of the Shanghai International Artwork Bonded Service Center, combined with the policy advantages of the bonded zone, to provide comprehensive and full-process services for the entry clearance and bonded display of international artworks in China. As this exhibition approached the New Year, customs proactively contacted us, offering meticulous assistance in entry declarations and other areas, ensuring that this batch of 34 pieces (or groups) of art treasures, including sculptures, paintings, installations, and jewelry, would meet the public before the lunar New Year of the Snake," said Wang Jiaming, deputy general manager of Shanghai Free Trade Zone International Cultural Investment Development Co Ltd.
