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Bonded area 1
Bonded zone refers to a special economic zone with the functions of international transit, international procurement, international distribution, international entrepot trade, commodity display, export processing, port and so on in the port operation area and its connected specific areas. It is an economic zone approved by the State Council and specially supervised by the customs. It is the most open and free economic region in China. Bonded port area enjoys policies such as bonded area, export processing zone, bonded logistics park and port area. The first bonded port area in Chinese mainland is Yangshan Bonded Port Area established by the State Council in 2005.
2. Features
① The function of the bonded area is "bonded warehousing, export processing and entrepot trade". Bonded area has the functions of import and export processing, international trade, bonded storage and commodity display. Enjoy the policy of "exemption from license, duty-free and bonded" and implement the business model of "keeping the customs inside and leaving the customs outside". It is one of the economic zones with the highest degree of opening to the outside world, the most convenient operation mechanism and the most favorable policies in China.
② Bonded area can facilitate entrepot trade and increase related expenses and income. Goods entering the bonded area can be stored, modified, classified, mixed, displayed, processed and manufactured, but they must be within the scope of customs supervision. Overseas goods stored in the bonded zone are free to enter and exit without paying import duties.
They only need to pay a storage fee and a small handling fee. But if you want to enter the customs, you need to pay customs duties. Free trade zones in different countries have different time regulations. If the relevant formalities are not completed within the time limit, the customs has the right to auction. After the auction, the final payment will be returned to the owner after deducting relevant expenses.
3. What's the difference between bonded area and free trade area?
① Supervision concept, from commodity management to enterprise management.
(2) Open trade and implement a diversified trade model that is in line with international standards.
③ The openness of policies is mainly reflected in investment management and foreign exchange policies.
(4) The bonded area is under the special supervision of the customs, and the goods must be registered at the customs before entering the bonded area, and there are different tax restrictions on the movement of goods entering and leaving the bonded area; Free trade zone is a duty-free zone outside the jurisdiction of customs and without trade restrictions.
⑤ Goods are stored in the bonded area for a period of time, usually 2-5 years; In the free trade zone, the storage period of goods is not limited.