Favorable business policies promoted
Ten months after the approval of the State Council in August, the Dalian Dayaowan Bonded Harbor Area has become one of the country's largest multifunctional economic zones with the most favorable policies.
Located at the Dagushan Peninsula in the northeastern part of Dalian, the Dayaowan Bonded Harbor Area enjoys preferential taxation and foreign exchange policies in free trade, export processing and free ports.
The area commenced operations on June 28, making it the second of its kind in China, after the launch of Shanghai-based Yangshan Bonded Harbor Area in December 2005.
The State Council has also approved a third such area, the Dongjiang Bonded Harbor Area, now under construction in northern China's Tianjin Municipality.
The first phase of the Dayaowan area covers 3.06 sq km and includes warehouses, cold storage facilities, a container terminal and processing and logistics services.
Analysts said the Dayaowan area is expected to increase China's share in the northeast Asian shipping industry, and is also considered a major step towards forming an international free trade zone.
They said the area will also help turn Dalian to an international shipping center and increase its capacity to draw foreign investment and help develop the country's entire northeastern region.
(China Daily 09/07/2007 page41)
