Shanghai Jiading Export Processing Zone upgraded for further opening-up

Shanghai Jiading Export Processing Zone in Jiading district, Shanghai, received approval from the State Council to be upgraded as a comprehensive bonded zone, according to a news report on June 3.

Comprehensive bonded zones are special customs oversight areas which enjoy the highest level of openness, most preferential policies and simplest procedures. They are designed to carry out services which integrate functions such as bonded logistics and export processing, and can develop businesses such as international transit, distribution, purchasing and transit trade.

According to the approval document, the Jiading Comprehensive Bonded Zone has a planned area of 0.95 square kilometers and will further enhance its existing functions with the aim of expanding opening-up.

Regarded as an important platform for boosting Jiading's export-oriented economy, the zone will play an important role in promoting foreign trade and accelerating the transformation and upgrading of traditional industries in the district.

Hesai Technology, a global leader in 3D sensors, was among the export-oriented enterprises to benefit from the bonded maintenance services.

"The comprehensive bonded zone helped us a lot in improving our after-sales services, brand image and international competitiveness, as well as increasing customer satisfaction," said Zheng Cheng, director of Hesai Technology.

Zheng said that at least 10 working days were required to complete customs clearance procedures for repairing exported laser products, and two to three months was common if all procedures were included, but now just 10 working days are needed to complete all the procedures.

The upgraded zone will also greatly benefit local residents, who will be able to buy more high-quality imported products at lower prices.

"Shanghai Jiading Comprehensive Bonded Zone acts as an important bridge between the domestic and international markets," said Yang Lifeng, manager of the Jiading Export Processing Zone.

Yang added that the bonded zone will continue to improve its business environment to attract more investors and become a new growth engine for Jiading's open economy, with the aim of making the district a port for local enterprises.