BEIJING, March 17 (Xinhua) — Construction has recently started on the first comprehensive bonded zone in northwest China’s Qinghai Province.
The Xining comprehensive bonded zone with a total investment of 1.08 billion yuan (about 154.48 million U.S. dollars) was approved by the State Council, China’s cabinet, on December 20, 2019.
The zone is located in Beichuan Industrial Park, Xining City, capital of Qinghai Province, and has a planned area of about 0.92 square kilometers. It mainly focuses on bonded processing and bonded logistics, with other functions such as R&D, design, testing, maintenance, and bonded trade display.
The zone, with a total construction area of about 58,000 square meters, will have an inspection center, a comprehensive service hall, a comprehensive office building, and an import and export trading center.
It is reported that the zone will focus on the development of five major industries, including new materials, Tibetan carpet and wool spinning, plateau animal and plant deep processing, modern logistics, and new service industries. At present, 13 projects including intelligent electrical equipment manufacturing, precision copper rod processing, and e-commerce, have confirmed to settle in the zone.