Xi'an boosts development of comprehensive bonded zones

Xi'an customs recently issued a series of measures to boost the development of comprehensive bonded zones and foreign trade in the city, capital of Northwest China's Shaanxi province.

A bonded zone is an area in a country with special trade terms or policies, boasting better and more streamlined arrangements for customs duties, as well as better import/export duties than usual. Foreign goods can enter without paying duties and be kept bonded. Also, manufacturing and trade inside the zone can be exempt from value added and sales taxes.

Officials said the city will ramp up support for the construction of the Shaanxi Xixian Airport Bonded Zone and actively promote the steady growth of foreign trade. It will also upgrade the existing Xi'an Export Processing Zone into the Guanzhong Comprehensive Bonded Zone.