Chongqing- China will work to negotiate and conclude high-standard free trade agreements with more countries and regions, stressed by Chinese Premier Li Keqiang in the Government Work Report at the opening of this year's session of the 13th National People's Congress in Beijing on March 5.
As the only comprehensive bonded zone in the middle region along the main axis of the Chengdu-Chongqing economic circle, Chongqing Yongchuan Comprehensive Bonded Zone has been accelerating construction since breaking ground last year, striving to be an important open platform for Chengdu-Chongqing and promote the cluster development of industries.
On July 6, 2021, the State Council approved Yongchuan Comprehensive Bonded Zone. Once completed, it will be China's 152nd and Chongqing's 6th comprehensive bonded zone.
Located inside Yongchuan High-tech Industrial Development Zone in the south of Yongchuan District's central urban area, it has a planning area of 1.11 square kilometers and a floor area of 0.088 square kilometers.
To be specific, it sits at the very center of Yongchuan High-tech Industrial Development Zone's Phoenix Lake Industrial Park, which means it is accessible; it adjoins Great Wall Motors' Yongchuan Factory and China-Germany (Chongqing) Intelligent Industrial Park, which indicates an advantage in supporting industries; next to it is a development zone for supporting industries with a planning area of 20 square kilometers.
According to the plan, Yongchuan Comprehensive Bonded Zone will also introduce intelligent technologies and develop a customs system that integrates digital processing, automated operation, network-based transmission, and intelligent identifying so as to provide more convenient services for the districts and counties related to Chengdu-Chongqing economic circle.
A panoramic view of Chongqing Yongchuan Comprehensive Bonded Zone under construction on February 25, 2022. (iChongqing file photo)
More enterprises interested in signing projects
Yongchuan Comprehensive Bonded Zone consists of bonded area, bonded logistics area, export processing area, and other areas, and focuses on bonded processing and manufacturing, bonded R&D and design, and bonded logistics distribution for major industries such as auto parts, high-end CNC machine tools, and medical equipment.
"We signed 19 projects last year alone, with the combined investment reaching nearly 210 million yuan," said a relevant project manager. There are five bonded processing projects, nine foreign trade projects, and five supply chain projects. Moreover, negotiations with some Fortune Global 500 companies are ongoing.
"Yongchuan Comprehensive Bonded Zone will slash our costs in R&D," said a relevant head of Great Wall Motors' Yongchuan Factory.
For example, Great Wall Motors' wind tunnel laboratory intends to import experimental equipment valued at 300 million yuan. If the laboratory were built in the bonded zone, the experimental equipment would be entitled to the "tax exemption policy for equipment imported for self-use purpose," which means a cost cut of nearly 70 million yuan.
Driving force for the Chengdu-Chongqing economic circle
"Yongchuan District is situated in the middle of Chengdu-Chongqing economic circle. Therefore, establishing Yongchuan Comprehensive Bonded Zone can speed up the fast development of the middle region of the Chengdu-Chongqing economic circle," said a relevant head of the Yongchuan District.
As per the Planning Outline for the Construction of Chengdu-Chongqing Economic Circle, Yongchuan District is positioned as "a pilot site for the integrated development of southern Sichuan and western Chongqing."
As the only comprehensive bonded zone in the middle region along the main axis of Chengdu-Chongqing economic circle, Yongchuan Comprehensive Bonded Zone can not only speed up the development of Chongqing's central urban area but also play a supporting and exemplary role as a regional center in the open development of surrounding regions such as Rongchang District, Dazu District, and Neijiang City.
"It is expected that a relatively large proportion of products from these industrial clusters will be exported through our bonded zone," said a relevant head of the Office of the Leading Group for Preparations for Construction of Chongqing Yongchuan Comprehensive Bonded Zone.
At the 2021 Yongchuan Import and Export Commodities Fair, there were more than 800 exhibits from 52 enterprises in Neijiang City, Zigong City, Hechuan District, and other places. In addition, surrounding regions such as Rongchang District, where electronic information, furniture, household items, and other industries are thriving, and Tongliang District, which has a strong beauty industry, can also expand development potential with the establishment of Yongchuan Comprehensive Bonded Zone.