The total number of comprehensive bonded areas in Shandong has risen to 13, ranking third in the country, as the comprehensive bonded areas in Jimo and Zibo passed their national acceptance reviews on March 31. 

The Qingdao Jimo Comprehensive Bonded Zone [Photo/qingdaonews.com]

The comprehensive bonded area is a special customs supervision area with the highest level of openness, the most preferential policies, the most complete functions and the most simplified customs clearance procedures, according to local customs authorities. It is also the highest form of special customs supervision area integrating international logistics, international trade, procurement and distribution and other comprehensive functions.

The Jimo Comprehensive Bonded Zone, which spans 1.2 square kilometers, is located at the core area of the Qingdao Oceantec Valley and is at the forefront of the integrated development of the Jiaodong Economic Circle.

The zone is the first comprehensive bonded zone in Shandong focusing on the general aviation industry. It will also contribute to Qingdao's efforts to serve and be integrated into the nation's new development paradigm and facilitate further opening-up and international trade, said Jimo officials.

The Zibo Comprehensive Bonded Zone [Photo by Dong Xiaoyuan/customs.gov.cn]

The Zibo Comprehensive Bonded Zone, which has a planned area of 1.84 square kilometers, is based on the former Zibo Bonded Logistics Center established in April 2011. It features many new functions such as bonded processing, bonded R&D and bonded services.

According to Shandong officials, the comprehensive bonded areas have played a positive role in facilitating foreign trade and boosting global cooperation.

Official data shows that in 2020, the import and export value of comprehensive bonded areas in the province (excluding Jimo and Zibo) hit 252.27 billion yuan ($38.47 billion), a year-on-year growth of 25.5 percent, 18 percentage points higher than the average growth rate of Shandong's foreign trade.

From January to February this year, the total trade value of local comprehensive bonded areas (excluding Jimo and Zibo) reached 49.01 billion yuan, a year-on-year increase of 1.1 times.