New comprehensive bonded zone gets approval in Xiong'an

The establishment of a new comprehensive bonded zone was approved by the State Council, China's Cabinet, on Sunday in Xiong'an New Area, North China's Hebei province, as a further step to promote the new area's construction and the high-quality development of an open economy, according to a report by China Media Group on Friday.

The zone will be located in Xiongxian county of the area, inside the Xiong'an section of China (Hebei) Pilot Free Trade Zone. Xiong'an is located about 100 kilometers southwest of Beijing.

The zone will cover about 0.63 square kilometers, with the first phase having 0.42 sq km.

The first phase will boast seven functional sections, including customs supporting area, inspection and supervision area, quarantine handling area and cross-border e-commerce functional area, the report said.

At present, the construction for a comprehensive office building and infrastructure for inspection, supervision and quarantine has been basically completed.

The zone will focus on high-end manufacturing and sales services, an official in Xiong'an was quoted as saying by the report.

For the next step, Xiong'an will accelerate efforts to attract investment, start operation of the zone and provide services.

China announced the decision to establish Xiong'an in April 2017 as a move to advance the coordinated development of the Beijing-Tianjin-Hebei region and relieve Beijing of functions not essential to its role as the national capital.