The comprehensive bonded zone of Wuxi city reached $10.8 billion in total import and export volume from January to November, 2015, a 10.8 percent increase from the previous year, according to local customs authorities.
In 2015, the city's comprehensive bonded zone strived to enhance the capacity and efficiency of the customs service, learning from the 14 innovative supervision systems of the Shanghai Free Trade Zone.
Meanwhile, the bonded zone has become the first pilot area in the province to utilize smart security lock and electronic vehicle identification in customs systems. The zone serves as the city's first cross-border electrical business headquarters as well as a meat import port.
The bonded zone has also worked on policy innovation to facilitate business development. A new policy states that enterprises in the zone may process products for other enterprises outside the zone without charging import and export taxes, which greatly improves the enterprises' competitiveness in domestic and foreign markets.
With the bonded zone, the city of Wuxi has a huge advantage in the manufacturing industry. The manufacturing output of the zone reached $8.4 billion last year, accounting for nearly 80 percent of the city's total import and export volume. The zone will continue to encourage industrial development and provide quality services to enterprises, said one of its officials.
