Yangshan Free Trade Port Area, the first bonded port in China, was opened in December 2005 upon the approval from the State Council. As a combination of free trade, export processing and bonded logistics, it soon became an important part of the China (Shanghai) Pilot Free Trade Zone (SHFTZ), which was officially set up in Pudong New Area in September 2013.
Occupying 14.16 square kilometers, the area consists of Little Yangshan Port area, land area and Donghai Bridge which links them together. It is the major undertaker of Shanghai's international shipping business and related value-added services, including future delivery, finance lease, commodity exhibition and ship registration
It's also home to the distribution centers for electronic products, vehicles and auto parts, luxury food, and brand clothing. It has developed into a distribution base for Europe and the United States, an industrial base of staple commodities, an import trade base for domestic market, and a gathering place for shipping enterprises.
According to the statistics of 2016, Yangshan Free Trade Port Area's overall revenue climbed to 253.2 billion yuan ($36.72 billion), a year-on-year increase of 23 percent. The commodity sales added up to 158 billion yuan, a year-on-year surge of 45 percent. The tax revenue reached 8.24 billion yuan, leaping by 53.4 percent.
The latest reports suggest that the port area's import-export volume in the first half of 2018 was 40.79 billion yuan, growing by 10.8 percent. The import volume, in particular, recorded 27.78 billion yuan, surging by 27.8 percent. The container throughput counted 8.87 million, soaring by 9.3 percent.
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