Huangpu comprehensive boned zone gains approval from State Council

Guangzhou Bonded Logistics Zone is set up in December 2009 under the approval of the State Council.

Guangzhou Bonded Logistics Zone recently received approval from the State Council to be upgraded to Guangzhou Huangpu Comprehensive Bonded Zone.

Set up in December 2009 under the approval of the State Council, Guangzhou Bonded Logistics Zone covers a total area of 0.51 square kilometers. It has carried out cooperation with Huangpu New Port and has launched businesses covering more than 10 provinces and cities.

The zone has benefited nearly 2,000 companies, helping them to lower their logistics costs by about 50 percent. Products and raw materials transportation required by major large companies in Huangpu, such as LG Display, can go through the customs in the bonded zone instead of Hong Kong.

By the end of 2019, more than 120 logistics companies have settled down in the zone, achieving an accumulated cargo value both entering and exiting the zone of $112.4 billion. 

The cargo value both entering and exiting the zone in 2019 amounted to $10.4 billion, while the import and export volume reached $1.2 billion.

Guangzhou Huangpu Comprehensive Bonded Zone will make full use of the preferential policies for both economic development zones and bonded zones launched by the country to develop strategic emerging industries, such as logistics distribution, cross-border electronic commerce, as well as leasing and financing, to make contributions to the further development of Huangpu. 

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