Hohhot bonded zone accelerates foreign trade growth

The Hohhot Comprehensive Bonded Zone, serving as a new platform for expanding external opening-up and developing outward-oriented industries, is committed to accelerating the development of new quality productive forces and fostering new industries and formats.

By maintaining a fundamental approach of high-level external opening-up, the zone focuses on stabilizing its foreign trade economy while also promoting its optimization. In 2023, the bonded zone achieved a total import and export value of 6.58 billion yuan ($915 million), a year-on-year increase of 58.48 percent. Of that, the total import trade value reached 4.26 billion yuan, up 6.92 percent year-on-year; and the total export trade value reached 2.33 billion yuan, a staggering increase of 1255.65 percent year-on-year.

To ensure efficient and fast customs clearance for the China-Europe and China-Central Asia freight trains, the bonded zone's Tietong Logistics Park customs supervision operation site was officially put into operation last year. It has achieved a streamlined customs clearance process with "one-time declaration, one-time inspection, and one-time release", which has sped up clearance time and reduced logistics costs.

This year, the bonded zone has dispatched 12 China-Europe (China-Central Asia) freight trains, carrying a total of 705 containers worth approximately 150 million yuan, reaching a new high. Subsequently, efforts will be made to increase the number of dispatched freight trains to 60.