Residents can buy high-quality imported goods at cheaper prices in the Wuhan Economic & Technological Development Zone’s new comprehensive bonded zone -- which got the green light from authorities on Nov 8, according to zone officials.
After the approval by various national ministries and other authorities, the comprehensive bonded zone will now officially be allowed to operate, taking the number of comprehensive bonded zones in Wuhan city to three.
During the trial operating period, the bonded zone helped Dongfeng Company export more than 30,000 vehicles to West Asia and the automaker’s export costs fell by about eight percent on average, officials said.
The new bonded zone also has a bonded commodity trading exhibition center, where residents can buy products displayed by the manufacturers.
Officials said the prices would generally be lower than that of the local supermarkets.
Officials said that, next, the bonded zone will introduce a cross-border e-commerce platform which will allow locals to have major savings from online purchases.
They said residents can make online orders for imported goods in the bonded zone. The tariff can be exempted and the consumption tax and value-added tax rate will be 30 percent off, they added.
According to Hu Cheng, an official from Wuhan Customs, the comprehensive bonded zone has a planned area of 1.26 square kilometers and will mainly provide services for industrial companies in Hubei province.
