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Yantai Bonded Port formally launched
By Zhan Ruiwan (chinadaily.com.cn)
Updated: 2009-09-29 16:40

Yantai Bonded Port, the second bonded port in Shandong province, has been formally set up after receiving an official endorsement from the State Council.

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The port covers an area of 726 hectares and provides nine functions including development and research, logistics and foreign trade.

According to Zhou Bo, CEO of Yantai Port Group, Yantai's role as the leading port around Bohai will be further consolidated with the operation of the bonded port.

It will provide available access for shipping lines from home and abroad to turn over loads by simplifying the procedures of entering and leaving the port, Zhou added.

"Yantai Bonded Port is competitive among ports around Bohai and northeast Asia. It is expected to become a key transferring hub for containers in northeast Asia," said Yu Dong, head of the Yantai Foreign Trade Bureau.