Lianyungang Comprehensive Bonded Zone

The aerial view of Lianyungang Comprehensive Free Trade Zone [Photo/xhby.net]

Lianyungang Export Processing Zone, set up in March 2003 approved by the State Council, has a planning area of 2.97 square kilometers. The first phase, covering 0.71 sq km was put into operation in January 2004 and the second phase was put into operation in November 2012.

In June 2018, the State Council upgraded it into a comprehensive bonded zone.

The FTZ is formed by two parts, the former export processing zone and Xuwei New District.

The export processing zone has been upgrading the processing trade and expanding the industrial scale of the zone, to make it into a multi-function area featuring comprehensive industries, bonded processing, commercial exhibition, service and innovation and bonded logistics, as well as a center for high-tech manufacturing, bonded logistics, bonded exhibition and trade and research, development and testing.

Xuwei New District is preparing major projects including a commodity distribution center, in order to provide various services such as bonded storage and processing, international procurement, international trade and distribution and container logistics.

By the end of June 2018, a total of 35 companies settled down in the area, including 16 foreign-funded companies. In the first five months, gross industrial output value increased by 4.7 percent year-on-year, industrial added value increased by 4.6 percent, and foreign trade increased by 20.4 percent.

The zone is expected to achieve a gross industrial output of 1.5 billion yuan ($222 million) by 2020, with foreign trade of $300 million.