Nanyang Wolong Comprehensive Bonded Zone has achieved a total foreign trade value of 1.03 billion yuan ($150.54 million) since it opened on Dec 30, 2016.
The bonded zone promoted investment in four areas, namely consumer electronics, intelligent terminals, high-end equipment manufacturing, and local Nanyang industries. There are currently 28 enterprises in the bonded zone, among which four are processing enterprises, 17 are logistics enterprises, three are newly registered enterprises, and four are newly negotiated projects.
Henan Rongzhi Communication Technology and Henan Yufeng Intelligent Technology have completed equipment installation and started trial production. The other two processing companies are currently in the preparation stage. The four companies are expected to be able to reach 1.8 billion yuan in annual output after they begin operating.
The 17 bonded logistics enterprises specialize mainly in mushrooms, jade and other products, and have an expected import and export value of 1 billion yuan.
The project design for a flour processing project by Xinjiang Alashankou Free Trade Zone has been completed. A cross-border trade project by Caipcom Group, a noodle processing project by Qingdao Longyuanfa Food, and a textile project with Henan Xinye Textile are currently being discussed.
The Nanyang Comprehensive Bonded Zone also seeks cooperation with the Beijing Tianzhu Free Trade Zone, the Zhengzhou Xinzheng Comprehensive Bonded Zone, and the Bonded Area of the Zhengzhou Economic and Development Zone. Cooperative relations with Shanghai, Lianyungang, Qingdao, Tianjin and other ports will be established as well.
Next, the bonded zone will set up a platform for cross-border trade, allowing domestic import and export enterprises, as well as foreign trade enterprises, to expand.