Zhangjiagang continues to improve its business environment for the development of parallel auto imports. [Photo/zjgonline.com.cn]

The port city of Zhangjiagang in East China's Jiangsu province will take full advantage of its superior location and strong transportation capabilities to develop parallel auto imports, according to an industry summit on auto imports held in the city on Dec 5.

Han Wei, deputy Party secretary of the city, said that Zhangjiagang is located at the junction of the Yangtze River Economic Belt and China's coastal economic belt, and it is a modern port city with a convenient transportation network.

In recent years, Zhangjiagang Bonded Zone has made strides in industrial transformation, upgrading, and innovative development, making the city a more attractive destination for business investment, according to Han.

Han added that relying on the policy advantages provided by the central government, the bonded zone has ramped up efforts to cultivate a business ecosystem for parallel auto imports. Statistics show that Zhangjiagang Bonded Zone has seen a total of nearly 100,000 parallel imports since 2018, generating more than 44 billion yuan ($6.73 billion) in sales revenue.

A local authority figure from the zone said that Zhangjiagang Bonded Zone, established in 2012, is expected to grow into an industrial base for import car modification in East China, and achieve a gross production value of more than 10 billion yuan by 2025.

Additionally, a number of foreign-invested projects related to the auto industry were also signed at the summit.