CHANGZHOU, China, Dec. 22, 2015 /PRNewswire/ -- Changzhou Comprehensive Free Trade Zone recently passed inspection tests conducted by ten government agencies including Nanjing Customs and received all necessary certifications.
Changzhou Comprehensive Free Trade Zone plans to launch several pilot projects involving free trade and cross-border e-commerce in the near future. Spurred by the rise of modern logistics and high-end manufacturing services, the zone plans to build a series of facilities that furnish bonded processing, trade and logistics services and speed up the construction of manufacturing facilities in key industries in order to provide an end-to-end production chain of logistics services for bonded products. The zone will take advantage of transportation resources in its proximity, among them, Changzhou International Airport, Changzhou Port of the Yangtze River, Benniu Inland Waterway Port as well as several railway freight depots and roads, in order to build a multimode transportation network that improves the efficiency of goods passing through nearby ports.
China's State Council approved the wide expansion in services provided as a result of the change in status from Changzhou Export Processing Zone to Changzhou Comprehensive Free Trade Zone as per a decision undertaken by the council and evidenced in document No. 13, 2015 issued in January, 2015. The function of and the taxation and foreign exchange policies in connection with a comprehensive bonded area shall comply with the provisions in the Official Reply of the State Council on Approving the Establishment of Yangshan Bonded Port Area (No. 54, 2005). The Reply requires that all of the management functions take place within the enclosed bonded area, and that the layout of the facilities assure that no goods can transit in or out of the zone other than through a supervised customs area.
Changzhou Comprehensive Free Trade Zone has completed the supporting infrastructure including roads, as well as water, electricity, gas, steam and communication facilities, and is laid out so that the offloading and onloading docks and terminals for every mode of available transportation have direct links to the customs area, inspection and quarantine treatment facilities, banks, warehousing and other transportation facilities, allowing companies to handle all export procedures within the zone. The zone has attracted investment from many businesses including Changzhou Biomet Medical Devices, Johnson Matthey, Changzhou Fudiya Mining Equipment, and Changzhou Gaobo Energy Materials.
SOURCE Changzhou Comprehensive Free Trade Zone