SW China's Sichuan adds another bonded zone

Aerial photo taken on April 12, 2021 shows the Chengdu Tianfu International Airport in Chengdu, southwest China's Sichuan Province. (Photo by Wang Ruilin/Xinhua)

CHENGDU, Jan. 6 (Xinhua) -- The Chengdu Tianfu International Airport Comprehensive Bonded Zone, located in Chengdu, capital of southwest China's Sichuan Province, has received approval from the State Council for establishment, according to the Chengdu Customs.

Situated to the north of the airport, the bonded zone is divided into two functional areas: a port and a bonded zone. Spanning an area of 1.083 square kilometers, it is the sixth comprehensive bonded zone in Sichuan.

The bonded zone is expected to leverage its proximity to the airport to develop three key industries: logistics and supply chain management, innovative services, and advanced manufacturing.

This initiative will further advance Sichuan's integration into the Belt and Road Initiative and accelerate the development of the Chengdu-Chongqing economic circle, according to the customs.

Comprehensive bonded zones are special economic zones characterized by duty-free operations, and specific tax and import-export policies.

As a platform for high-level international openness, these zones offer preferential policies, a wide range of functions, and streamlined regulatory procedures, playing a critical role in enhancing foreign trade, attracting foreign investment, and driving industrial transformation and upgrading.