A total of 80,200 tons of imports and exports were handled in the Taicang Port Comprehensive Bonded Zone in the first three quarters of the year, a year on year increase of 45.1 percent. They were valued at $532 million, a year-on-year increase of 32.4 percent, according to data recently released by Taicang Customs.

Many foreign firms chose the Taicang Port Comprehensive Bonded Zone as their global distribution center due to the zone's low customs clearance costs and high efficiency.

Imports and exports were valued at $182 million for the first three quarters, increasing by 50.4 percent year-on-year, said Mei Hongtu, an executive at Taicang Bangdaxin Logistics Co Ltd, which stores a large amount of commodities at warehouses in the Taicang Port Comprehensive Bonded Zone.

According to Mei, his company is responsible for managing commodities purchased by foreign companies in China and shipping them to other countries.

The bonded zone is home to 15 companies, including L'Oreal and Wyeth, both of which have set up international distribution centers in the zone.

Wang Pei, an official of Taicang Customs, said that the Taicang Port Comprehensive Bonded Zone allows international commodities to enter and exit freely and makes purchases and sales more convenient.

Since 2019, the zone has introduced three major projects involving imported food, cross-border transactions of clothing, and imported wine.

The Taicang Port Comprehensive Bonded Zone [Photo/CFP]