Shenzhen approves 3rd comprehensive bonded area

Writer: Zhang Yu  |  Editor: Stephanie Yang  |  From: Shenzhen Daily  |  Updated: 2021-06-25

Pingshan Comprehensive Bonded Area has become the third comprehensive bonded area in Shenzhen after it was approved by the provincial and municipal government departments Wednesday, Shenzhen Special Zone Daily reported.

On May 24, 2020, with the State Council approval, the bonded area in Pingshan District was transformed and upgraded from the Shenzhen Export Processing Area with a planned area of 1.91 square kilometers, according to Shenzhen Customs.

In 2020, foreign trade in the area grew 11 percent from the previous year to reach 85.47 billion yuan (US$13.19 billion), ranking 18th among the 163 areas with special supervision of the Chinese customs.

The total imports and exports of Pingshan Comprehensive Bonded Area amounted to 38.17 billion yuan (US$5.88 billion) in the first five months of 2021, up 14.9 percent year on year, official data showed.

Currently, the area has 80 enterprises in operation and no commercial real estate. Among the companies, 23 enterprises engage in processing trade and 57 enterprises are related to bonded logistics, testing and maintenance, according to Shenzhen Economic Daily.

All the companies in the bonded area are closely related to the leading industries in Pingshan, which include biomedicine, new-generation information technology, new energy vehicles and intelligent Internet of Things.

In recent years, foreign trade in the bonded area has been on a steady upward trend, according to the Daily report.

Foreign trade in the area reached 37.84 billion yuan and 76.97 billion yuan in 2018 and 2019, respectively, each posting a growth of 4.5 percent and 103.4 percent year on year.