Suzhou Industrial Comprehensive Bonded Zone [Photo/sipac.gov.cn]
Suzhou Industrial Park Comprehensive Bonded Zone was approved to be established in Suzhou, East China's Jiangsu province by the State Council in December 2006. It is the first pilot special zone with the bonded function supervised by the customs authority in China.
The zone covers 5.28 square kilometers, of which 1.5 million square meters are factory buildings, 1 million sq m are warehouses, and other supporting facilities cover 450,000 sq m. Businesses carried out in the zone include customs clearance, bonded processing, bonded logistics, import and export trade, and inspection and maintenance.
By the end of May 2017, 331 registered firms had been based in the zone. Among them, there were 120 production firms, 54 logistics firms, and 152 trade firms. In addition, it provided bonded logistics services for nearly 5,000 production firms across the nation.
In recent years, the zone has had great success exploring innovative institutions and policies to cut its firms' costs and to improve trade facilitation. In 2017, its import-export volume was valued 155.6 billion yuan ($23.1 billion) and goods under customs supervision were worth $100 billion.
At the end of 2018, the zone was approved to join the World Free Zones Organization. In the future, it will be directly guided and pushed by the organization in terms of its upcoming plans, management, and operation modes. It will also extensively cooperate with other member zones.
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