Huangpu allocates funds to stabilize global supply chains

Huangpu Free Trade Zone.

A series of measures to stabilize and facilitate global trade supply chains was released by Guangzhou's Huangpu district on April 1, aiming to ensure the stable development of production and supply chains for strategic and emerging industries.

These measures covered eight sectors to help local companies deal with problems in global logistics transportation.

Ports in Huangpu district are encouraged to increase working and container turnover efficiencies for companies meeting certain requirements, with those companies purchasing empty containers to secure the stabilization of Huangpu's supply chains able to receive a subsidy of 10,000 yuan ($1,572) per container.

Companies that change their previous plans and choose Guangzhou ports and airports to import or export products can receive a 20 percent subsidy of their actual costs in water and road transportation. A fund of 30 million yuan will go to this sector every year to relieve companies' logistics expenses.

A subsidy of 1,000 yuan per container is available for companies using Eurasian freight trains to transport products to or from Huangpu.

Green channels will be opened at Guangzhou Baiyun International Airport and Guangzhou ports to provide customized services and fast clearance for Huangpu companies with good credit when handling their imports or exports.

Inspection sites for special products will be set up to offer fast clearance services, addressing the surging demands rising from the development of Huangpu's biomedical and integrated circuit industries.

Financial institutes are encouraged to make more innovations in launching financial products. They are also encouraged to jointly set up supply chain financial service platforms with financial technological companies and core supply chain companies.

It is expected that these measures will accelerate the aggregation of high-end elements and industries to support Huangpu's efforts to become an industrial center with global competitiveness.

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