China rolls out new measures to upgrade comprehensive bonded areas
Updated 22:48, 05-Jan-2019
China will take a series of measures to improve business environment and facilitate trade and investment in the comprehensive bonded areas, according to a State Council executive meeting on Wednesday.
Enterprises will enjoy easier domestic sales and are encouraged to do researches, said the statement released after the meeting.
For example, the value-added tax (VAT) taxpayer qualification pilot is launched in the comprehensive bonded areas, and the processing and manufacturing enterprises in these bonded areas are allowed to undertake commissioned processing outside the areas. Mobile phones and auto parts processed and produced in these areas are no longer subject to automatic import licenses when they are domestically sold.
 Taicang Port comprehensive bonded area in Suzhou, east China's Jiangsu Province /VCG Photo

 Taicang Port comprehensive bonded area in Suzhou, east China's Jiangsu Province /VCG Photo

Except for the prohibited goods, the imported goods and articles used for research and development (R&D) by enterprises in these areas are exempt from license. Newly established R&D and processing enterprises in these areas that meet certain standards will be given the highest credit rating directly.
The logistics and customs clearance process will be further facilitated. The entry of qualified items into these areas and the direct transfer of bonded goods, for instance, can be exempted from customs declaration. 
Meanwhile, new modes of businesses are encouraged. Enterprises in these areas are allowed to carry out high-tech, high value-added and environmentally-friendly bonded inspection as well as global maintenance and re-manufacturing business. International service outsourcing business and cross-border service trade are also encouraged in this regard.