SMM

The General Administration of Customs recently issued the Implementation Plan of Comprehensive Reform to Promote the High-quality Development of Comprehensive Bonded Zones. The Plan will promote high-quality development, supports the expansion of functional business formats, accelerate the establishment of appropriate policies and a business environment for producer services such as high-end manufacturing and R&D and maintenance, to enhance the industrial linkage within and outside the zones so as to further reduce institutional transaction costs. The reform measures targeted to this aim include conducting new forms of high-end training to meet the needs of the domestic market, allowing goods in duty-free shops to be imported from overseas through the zones, supporting cross-customs out-of-bonded-zones display and sales to reduce enterprises’ operating costs, and building product-supporting service facilities to optimize the business environment.