Foshan Inaugurates Comprehensive Bonded Zone to Boost Manufacturing and Trade
Foshan China 2024-05-15 17:46

On May 9, Foshan officially launched its Comprehensive Bonded Zone, marking a significant step in enhancing the city's manufacturing capabilities and expanding its international trade reach. This new development aims to solidify Foshan's position as a leading manufacturing hub and facilitate higher-level opening to the global market.

Foshan, renowned for its robust manufacturing base and integrated industrial chain, achieved a milestone in 2023 with its industrial output value exceeding three trillion yuan. Foshan is home to two trillion-yuan industrial clusters and eight billion-yuan clusters in home furnishings and equipment manufacturing, underscoring its economic strength and industrial diversity.

Due to the strong base of Foshan's industry, the State Council approved the establishment of the Foshan Comprehensive Bonded Zone on November 22, 2023. Spanning 1.13 square kilometers, the zone is designed to leverage national-level policy advantages, focusing on advanced manufacturing, logistics, sales services, R&D, and maintenance. It represents Foshan’s first national-level platform for open development and the 13th Comprehensive Bonded Zone in Guangdong province.

Shunde New Port (Foshan News and Media Center/Li Jinqiang)

The new zone will play a crucial role in transforming and upgrading Foshan's manufacturing sector. It will attract foreign investment and foster the development of advanced materials, biopharmaceuticals, and new energy vehicles. The zone's favorable policies, such as tax exemptions for internal transactions, will enhance the competitiveness of industries like smart appliances and robotics.

Strategically located next to Shunde New Port, the largest river-sea intermodal foreign trade port on the west bank of the Pearl River, the bonded zone benefits from direct shipping routes to South Korea and a partnership with Shenzhen's China Merchants Shekou Port. This "zone-port linkage" will streamline customs procedures and foster rapid development of bonded logistics and services, boosting Foshan’s international trade.

Shunde New Port (Foshan News and Media Center/Li Jinqiang)

Looking ahead, the Foshan Municipal Bureau of Commerce will lead efforts to enhance coordination, optimize the business environment, and attract targeted investments. The goal is to establish Foshan as a new highland for opening up, driving the transformation and upgrading of its manufacturing industry.


Revisor丨Eleanor, Zoey

Photo | Foshan Commerce Bureau, Li Jinqiang

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