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December 3, 2019

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Qingpu bonded zone open for business

By Xu Lingchao | 00:00 UTC+8 December 3, 2019 | Print Edition

The Shanghai Qingpu Comprehensive Bonded Zone opened yesterday, along with 11 new policies Qingpu District has made to boost infrastructure construction in the zone as well as to attract more businesses.

A number of multinational companies and brands, including Nivea from Germany and Schlumberger from the US, have signed agreements with the zone.

A comprehensive bonded zone is the highest form of an area under special customs supervision which allows it to enjoy almost all preferential policies that customs offers.

Covering 1.58 square kilometers, the zone was formerly an export processing zone established in 2003. The State Council passed a proposal to upgrade it to a comprehensive bonded zone last year.

Peng Yihao, deputy head of the district, said Qingpu will offer bonuses of up to 5 million yuan for companies that set up headquarters while for cross-border e-commerce platforms in the zone, the district will offer up to 3 million yuan.

Peng said the district will fully support companies looking at the share market. For those who get listed, the district will offer a bonus of 5 million yuan.

In the future, the comprehensive zone will take full advantage of its location in the Yangtze River Delta Ecology and Greenery Integration Demonstration Zone and the spillover effect from the China International Import Expo to further open up to the world.

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