Wuxi receives 1st bonded store

Youchuan Bonded Store, the first bonded store in Wuxi, Jiangsu province, opened on April 13 at No 1, Gaolang East Road.

Stout beer imported from Germany on sale at the Youchuan bonded store in Wuxi. [Photo/wxrb.com]

The retail goods sold at the store are purchased in bulk overseas and sold directly at the store after customs clearance from the Wuxi New District Free Trade Zone, according to Fan Xuefeng, deputy manager of the store.

Preferential policies at the free trade zone have helped cut many circulation processes for imported good to enter the domestic market, allowing better margins and greater prices, Fan added.