Construction starts on bonded zone in Ordos
Updated: 2018-04-16 Print
An inauguration ceremony marking the start of construction work at a State-level comprehensive bonded zone in Ordos takes place at the city’s Airport Logistics Park, April 9. [Photo/WeChat account of Ordosnews]
An inauguration ceremony marking the start of construction work on a State-level comprehensive bonded zone in Ordos was held at the city’s Airport Logistics Park, on April 9.
The ceremony also marked the beginning of six other major projects that will soon begin in the industrial park, with a further 13 projects planned to start later this year.
The initial seven projects drew total investment of 1.65 billion yuan ($263 million), covering the areas of modern logistics, advanced manufacturing and modern services.
Approved by the State Council last year, Ordos Comprehensive Bonded Zone is the first one of its kind in the urban agglomeration consisting of Hohhot and Baotou in Inner Mongolia autonomous region, and the city of Yulin in Shaanxi province
It plans to attract investment of 363 million yuan with a total area of 1.21 square kilometers. The first phase of the project is expected to be accomplished by November this year.
A comprehensive bonded zone is a special area supervised by the General Administration of Customs with the highest level of openness, the most preferential policies and most complete functions among all levels of trading areas.