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|  | | Xiamen Haicang Bonded Port begins construction |
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¡¡¡¡Sep. 8th, a grand opening ceremony was held to celebrate the start of construction on Xiamen Haicang Bonded Port Area.
¡¡¡¡Approved by the State Council in June this year, Xiamen Haicang is the seventh Bonded Port Area and also the most open one in China under special supervision. The total investment for the overall plan is estimated at about RMB 50 billion, covering an area of 9.51 km2. Haicang Bonded Port Area will apply an enclosed, information-based, intensive supervision, so as to guarantee tax-free entry of imported goods, tax rebate policy over exported goods, no value-added tax and consumption tax levied over transactions between enterprises within the area.
¡¡¡¡Chen Guishan, Chairman of Haicang Bonded Port Construction and Management Company, said that the bonded area will be beneficial for Xiamen Port to reach Kaohsiung Port in Taiwan, narrow the policy gap, realise a more international customs supervision, optimise customs clearance procedures, greatly simplify the procedures for ships entering and leaving, raise transit efficiency, upgrade the port¡¯s competitiveness, and finally explore larger scope for Taiwanese enterprises.
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