Enterprise News

    The first phase of the Cuntan Bonded Area covers 2.67 sq km and will cost 3 billion yuan (439 million U.S. dollars). It will be completed and put into operation at the end of this year.

    The 8.37-sq km Cuntan Bonded Area centers both the Cuntan Harbor and the Jiangbei International Airport. The whole bonded area, to be built in three phases, will be completed in 2015 with a total investment of about 10 billion yuan.

    Chongqing Vice Mayor Huang Qifan said the bonded area will greatly push the development of Chongqing's exports-oriented economy and accelerate the opening up of central and western inland cities.

    Enterprises in a bonded area enjoy such preferential policies as tax rebates for exports and free tax for trading within the area. China has established ten free trade zones in eastern coastal areas.