Feb. 1, 2012 (China Knowledge) - Beijing E-Town
, a triple-A rated industrial park
in China, saw its bonded logistics center officially begin operation last month.
The development area
fulfilled its original target of getting approval, completed construction, custom setup and put into operation within one year.
BOE Technology Group Co Ltd<000725
> and South Korea's LG were the first enterprises to enjoy services from the bonded logistics center, which significantly simplify customs clearance procedures and help to speed up value-added tax rebate. In addition, it only takes less than two hours for enterprises in the development area
to complete customs procedure in the bonded logistics center; thus, greatly reducing time and related costs. Beijing E-Town
bonded logistics center, set up with the approval of the General Administration of Customs (GAC)
, Ministry of Finance
, the State Administration of Taxation
and State Administration of Foreign Exchange
, is the country's twenty-fifth type B bonded logistics center covering a land area of about 200,000 square meters. The center is designed to have six bonded warehouses.
The first phase of the bonded logistics center has a storage area of more than 50,000 sq m.
The center, with important functions of bonded storage, international logistics, distribution and value-added services, will satisfy the need for bonded logistics services by export-oriented manufacturing enterprises around the area and help reduce their operating costs and increase operation efficiency.