Guangzhou Tariff-free Logistics Zone Passes National Check and Inspection

Published on September 27, 2008 by brooks | This story has been viewed 90 times

The Guangzhou tariff-free logistics zone passed the check and inspection jointly conducted by eight national departments on September 24th. With the inaguration of the zone, tax rebates can be granted for enterprises within the zone. “This will promote modern logistics in Guangzhou and strengthen economic exchange between the city and the world”, said Xue Xiaofeng, Director of the Management Commission of the Guangzhou Economic and Technological Development District (GETDD).

With the introduction of tariff-free logistic zones boasting the highest degree of openness in China, materials processing, tax rebates and product transfers can be performed here instead of in foreign countries as formerly was the case. Henceforth, procedures concerning declaration, checks, examinations and clearance of customs will be greatly simplified. Too, the free flow of goods will be allowed without value-added or consumption taxes imposed.

Early in 2002 when economic zones mushroomed in China, Guangzhou took the innovative step of integrating the Guangzhou Development Zone, the Guangzhou High and New Technology Zone, the Guangzhou Export Processing Zone and the Guangzhou Tariff-free Zone into what is now the Guangzhou Economic and Technological Development District. This move, which improved the comprehensive strengthen of the district in terms of total output, fiscal revenue and industrial added-value and has ranked first among 54 state-level development districts each year since 2004.

Following similar tariff-free logistic zones established in Shanghai, Qingdao, Ningbo, Dalian, Zhangjiagang, Xiamen, Shenzhen and Tianjin, the Guangzhou Tariff-Free Logistics Zone was the 9th to be approved by the State Council on December 3rd, 2007.

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