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May sees 10,000 deals handled in Taicang port bonded zone

( chinadaily.com.cn )

Updated: 2018-06-05

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May sees 10,000 deals handled in Taicang port bonded zone

More than 10,000 deals in bonded business are handled in Taicang port integrated bonded zone in May. [Photo/WeChat account: TPETDZ]

More than 10,000 deals in bonded business were handled in Taicang port integrated bonded zone in May, a seven-fold increase year-on-year, local media reported.

In the first five months of this year, a total of 21,000 deals have been completed, outnumbering the whole bonded business dealt in 2017.

Owing to its advantages in low costs and customs clearance, the bonded zone is attractive to a variety of different companies for operations, including Uniqlo and Onward, Japanese clothing designers, manufacturers and retailers.

In order to satisfy the increasing demands of cross-border e-commerce companies, such as handling awkward cargo and bonded processing, an international logistics park is under construction in the integrated bonded zone, including a 50,000-square-meter warehouse and a 30,000-square-meter stock dump.

The integrated bonded zone is a special trade zone created on the Chinese mainland, due to the favorable conditions it possesses for customs duties, import and export duties and supervision approaches.