Fengxian Comprehensive Bonded Zone

govt.chinadaily.com.cn Updated: 2019-01-18

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Fengxian Comprehensive Bonded Zone, previously known as Minhang Export Processing Zone, was established in March 2003 with approval from the State Council, China's Cabinet, and opened for business in November of the same year.

The bonded zone covers an area of 1.9 square kilometers in Shanghai Fengpu Industrial Park, with Huanchen East Road to the east, Fengpu Road to the south, Nanzhu Valley to the west and Xiaonan Port to the north. It is 20 kilometers away from downtown Shanghai, 29 kilometers from Hongqiao Airport and 50 kilometers from Yangshan Deep Water Port and Pudong Airport.

To date, the zone has incubated four leading industries, namely new energy, electronic devices, equipment manufacturing and bonded logistics. The administrative committee has adopted, localized and promoted 19 customs policies and 11 inspection regulations from other free trade zones.

In 2016, Minhang Export Processing Zone's industrial output recorded 6.11 billion yuan ($903 million) and contributed to 82.91 million yuan of tax revenue. In April 2018, the State Council approved establishment of Fengxian Comprehensive Bonded Zone, which expanded the zone's business scope into duty free trade, bonded exhibition, inspection and maintenance.

In the first 11 months of 2018, the upgraded bonded zone saw an import-export revenue of 5.11 billion yuan. According to official sources, the number is expected to reach 7 billion yuan in 2019.