China approves new bonded zone
Updated: 2011-12-26 16:55
(Xinhua)
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CHANGCHUN - The State Council, or China's Cabinet, has approved the country's 19th bonded zone in northeastern Jilin province, which is expected to invigorate cross-border trade in Northeast Asia.
Zhang Huanqiu, head of the Management Committee of the Changchun Economic and Technology Development Zone, said on Monday that the Changchun Xinglong Comprehensive Bonded Zone covering 4.89 square km in Xinglongshan Township, Changchun, capital of Jilin, is slated to open by the end of 2012.
The bonded zone is considered a core area of the Changchun-Jilin-Tumen Development Pilot Zone set up by the Chinese government in 2009 to push forward cross-border cooperation in the Tumen River Delta, which straddles the borders of China, Russia and the Democratic People's Republic of Korea (DPRK).
Zhang said the comprehensive bonded zone would make use of the country's most favorable policies for ports and export processing zones to boost the logistics flow in Northeast Asia.
It will especially emphasize the manufacturing of automotive electronics and spare parts of transit equipment as well as module assembling, he said.
Zhang also pointed out that invigorating the modern logistics flow in the Northeast Asia region would rely on the linking of more cross-border transport routes with Russia, Japan and the Republic of Korea.
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