The trade of Yantian Integrated Bonded Area reached 10.3 billion yuan (US$1.52 billion) in July, up by 8.32% over the previous month, embarking on the 10-billion-yuan benchmark for the first time.
The number of cargo vehicles in the bonded area in July reached a new high, up by 7.7% over that of June, data from Shenzhen Customs showed Monday. Increases in cargo traffic and trade volume were attributed to the implementation of the area’s 24-hour operation mechanism in July.
The bonded area’s 24-hour operation mechanism was a measure implemented by the Yantian District Government and Shenzhen Customs to solve enterprises’ difficulties and stabilize foreign trade.
“The 24/7 operation mechanism is very convenient for enterprises, especially during their peak sales season. It helps lower inventory and logistics costs,” a manager surnamed Zhong from Yantian Port Logistics Co. Ltd. said at an interview.
The company, a major logistics company in Shenzhen, offers transportation service to dozens of supply chain companies. The trade of the company reached 1.17 billion yuan between January and July, up by 32% year on year.
The 24-hour mechanism could help enterprises save around 26 million yuan a year in costs associated with staying overnight based on estimates at the bonded area, which handles about 2,400 container trucks a month, according to the Shenzhen Customs. It also relieved traffic on the roads around the bonded area and improved the business environment.
Data from Shenzhen Customs showed the trade of the bonded area reached 54.4 billion yuan from January to July, up by 13.1% year on year.