Ordos bonded zone sees first contract signed

Representatives from Ordos Airport Logistics Park, where Ordos Comprehensive Bonded Zone is based, and Inner Mongolia Mengkai Import and Export Trading Co sign a cooperation deal related to the bonded warehousing of vehicles, on March 19. [Photo/WeChat account of Ordos News]

Ordos Comprehensive Bonded Zone witnessed the signing of a new business contract with a local vehicle production company, on March 19.

It is of great significance for the special economic area as the deal is the first to be signed in the zone since it passed acceptance tests organized by authorities in December 2018.

In addition, Ordos Airport Logistics Park, where the bonded zone is based, signed a deal with Inner Mongolia Mengkai Import and Export Trading Co in relation to the bonded warehousing of vehicles.

According to the terms of the agreement, the company will conduct business operations in the trading and warehousing of vehicles for special purposes inside the zone.

Once the project is put into operation, the estimated annual value of imports and exports is expected to hit more than $10 million.