The Dream Factory of China

Source :Qianhai Communication Center

The infrastructure and customs clearance facilities in the Shenzhen Qianhai Comprehensive Bonded Zone passed an official inspection on Aug.19, becoming ready for full operations.

Located in the Mawan area, the Shenzhen Qianhai Comprehensive Bonded Zone is an upgrade of the Qianhaiwan Free Trade Port Area both in name and in function. According to the development planning, structures with a total floor space of 1.0634 million square meters, mostly large warehouses, will be built in the bonded zone. At the same time, two berths for 200,000-ton containers, enough for the world’s largest container vessels to dock, have been planned for the port area, which will be built into the Mawan Smart Port with an investment of 4.37 billion yuan (US$631.46 million).

Tian Fu, member of the Standing Committee of the Shenzhen Municipal Committee of the CPC and director of the Authority of China (Guangdong) Pilot Free Trade Zone Qianhai and Shekou Area, said the bonded zone is conducive for Shenzhen to become a new international trade center and a shipping service center in the Guangdong-Hong Kong-Macao Greater Bay Area for both domestic and overseas markets.

Construction of the former Qianhaiwan Free Trade Port Area started in October 2008 and was expanded to cover an area of 2.9 square kilometers in 2016, six years after it was put into operation.

A series of innovative trade facilitation measures, such as the “MCC (multi-country consolidation) Qianhai service,” have been introduced at the free trade port.

Official statistics show that the total volume of imports and exports through the Qianhaiwan Free Trade Port Area reached 128.5 billion yuan last year, up by 390-percent from five years ago. The free trade port reported a growth of 40.3 percent in international trade in the first half of this year, even while the world’s economy was put on hold due to the COVID-19 pandemic.