Guizhou explore advantages of bonded economy
2024-08-14
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The development of bonded repair can promote the transformation and upgrading of processing trade. [Photo/ddcpc website]
Southwest China's Guizhou province is committed to becoming a hub of inland open economy. In recent years, new business models such as bonded processing, bonded maintenance, bonded financing and leasing, and bonded display and trading have been developed in the province, creating advantages for Guizhou's open economy and promoting stable foreign trade growth.
As an important measure for Guizhou to strive to build a new highland of inland open economy, in recent years, new "bonded +" business formats such as bonded processing, bonded maintenance, bonded financial leasing, and bonded display and trading have been successively implemented and developed in our province. Bonded policies and emerging business formats have been continuously integrated, creating new advantages for Guizhou's open economy and promoting the stabilization and improvement of foreign trade.
Under the bonded display trading model, companies do not need to go through customs procedures, or pay tariffs or value-added taxes before selling imported goods, reducing financial pressure on businesses and enabling consumers to freely "overseas shop" at their doorstep, enjoying convenient global shopping services.
Under the bonded display and trading model, companies do not need to go through customs clearance procedures, pay tariffs and value-added tax for imported goods before selling them, which reduces the company's capital occupation and allows consumers to freely "shop overseas" at their doorstep and enjoy convenient global shopping services.
Bonded repair, also known as "global repair", is a new form of foreign trade in which companies use bonded methods to bring damaged or defective goods from overseas or from outside the bonded area into the free trade zone for repair, and then return them to their origin for export, promoting the transformation and upgrading of processing trade.
Bonded maintenance is also known as "global maintenance". As one of the new forms of foreign trade, it means that enterprises transport goods with damaged parts, functional failures, quality defects, etc. from overseas or outside the domestic area to the comprehensive bonded area for maintenance in a bonded manner, and then transport them back to overseas or outside the domestic area according to their source. The development of bonded maintenance business is conducive to promoting the transformation and upgrading of processing trade.
In Guiyang's Zazuo town, Guizhou Tire Co utilizes the bonded warehouse to reduce annual imports of raw material funds by approximately 10 million yuan ($1.39 million).
In Zazuo Town, Xiuwen County, Guiyang City, Guizhou Tire Co., Ltd. uses bonded warehouses to reduce the capital occupied by imported raw materials by about 10 million yuan each year.
Reducing operating costs is a key strategy for accelerating business growth. Bonded warehouses allow importing companies to enjoy preferential policies such as tax exemption or deferral on imported goods, reducing capital occupation.
Reducing operating costs is the "key move" to promote the rapid development of enterprises. Bonded warehouses can enable importing companies to enjoy preferential policies such as tax exemption or tax deferral for imported goods, thereby reducing the capital occupation of enterprises.
From January to February this year, Guizhou's bonded warehouse imports and exports reached 117 million yuan, a 111.71 percent year-on-year increase.
From January to February this year, Guizhou bonded warehouses' imports and exports totaled 117 million yuan, a year-on-year increase of 111.71%.
Furthermore, Guizhou is expanding open channels using a "bonded + logistics" model. Guizhou's bonded logistics center (type b) warehouse and checkpoint's main body have been completed, and efforts are underway to ensure it can begin operating as soon as possible.
At the same time, the "bonded + logistics" is used to expand the open channel. At present, the main construction of the bonded logistics center (type B) warehouse and checkpoints of Guizhou's "one bureau and four centers" has been completed, and all efforts are being made to promote the project to be fully completed and put into operation.
Source:eguizhou.gov.cn
Editor: ChenDawei
Senior Editor: MinJie
