China’s First Customs-Supervised Special Zone Opens
published: cw 22, 2007 in Global Trade & LogisticsZhuhai Park is the first customs-supervised special area in China and will enjoy special policies as a bonded area, an export processing zone, and a special port. Located in the Zhuhai-Macau Cross-Boundary Industrial Zone, Zhuhai Park is the only industrial zone with these three “special roles” approved the China’s State Council.
Enterprises in the park are eligible for more preferential tax policies under the new measures. Customs will create a virtually tax-free environment for those enterprises, and goods entering the park will be considered as having been exported and will be immediately eligible for export rebates. Goods leaving the park will be taxed as they are, with no value-added tax (VAT).
The industrial zone is divided into two sections: the Zhuhai Park, which comes under the administration of the Zhuhai government; and the Macau Park, which comes under the administration of the Macau SAR government. The two parks are separated by a waterway and are connected by a special customs port channel. A total of 26 enterprises have moved into the Zhuhai Park in the last four months.
Source: Logistics Today
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