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 Guangzhou upgrade advantage policies for integrated bonded areas in GBA
Category:Legislative Updates  
Subject:People and society   ; Finance   ; International trade   ; Post and logistics  
Publish Date:08-05-2022

The Guangzhou Municipal Commerce Bureau recently launched 23 supportive measures to promote the high-quality development of integrated bonded areas, which include specific measures to improve market supervision and enhance investment promotion.
To better connect domestic trade and international trade, Guangzhou will smooth its supply chain logistics channel for foreign trade and advance the coordinated development of integrated bonded areas in the Guangdong-Hong Kong Macao Greater Bay Area (GBA).
As for industry formats, it will develop bonded R&D and bonded maintenance, improve logistics distribution, upgrade cross border e-commerce.
To diversify bonded industries, Guangzhou will develop bonded leasing and build bonded exhibition centers.
While regarding market supervision, digital technology will be applied and the trade supervision model will be innovated. Also the city will support more enterprise to upgrade themselves into AEOs.
As for supportive measures, Guangzhou will guarantee land resources and green and intensive development as well as employ more skilled professionals.
Guangzhou has three integrated bonded areas, Huangpu, Nansha, and Baiyun Airport. In the first six months of 2022, their combined foreign trade volume reached 81.82 billion RMB, an increase of 55.2 percent, greatly alleviating the downward pressure on Guangzhou's foreign trade. New policies are expected to further boost the development of the city's integrated bonded areas.

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