Xiamen Xiangyu Bonded Logistics Park upgraded for further opening-up

Xiamen Xiangyu Bonded Logistics Park in Xiamen, East China's Fujian province, received approval from the State Council to be upgraded as a comprehensive bonded zone, the first of its kind in the city.

The park is located in the Xiamen Xiangyu Bonded Zone which was approved to be established by the State Council in 1992 with a planned area of 0.63 square kilometers. Major businesses engaged in the zone include warehousing, logistics, and international and entrepot trade.

The bonded logistics park is a special customs oversight area. Limited by its functions, the park can only carry out businesses such as logistics storage and international transit, and it cannot extend its businesses to production and processing, research and development or manufacturing, while the comprehensive bonded zone enjoys high-level opening-up, more preferential policies, complete functions and convenient customs clearance.

Upgraded as a comprehensive bonded zone, the zone will offer great opportunities to the Xiamen Area of China (Fujian) Pilot Free Trade Zone, make better use of both international and domestic markets and resources, and speed up the development of industries such as financing and leasing, bonded warehouses, and cross-boarder e-commerce in the Xiamen area.