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Trade volume in bonded zones up 17% in 2008

(Xinhua)
Updated: 2009-02-02 14:15

This July 26, 2008 file photo shows containers at the Shenzhen port. China's trade surplus reached a new record high of $28.7 billion in August. [Asianewsphoto]

China Customs has said the total value of imports and exports in its specially supervised areas, mainly bonded zones, increased 17 percent year-on-year to almost $300 billion in 2008.

Related readings:  Shanghai foreign trade volume rises 13.8% in 2008  Trade at Shanghai Port declines sharply in Dec  Customs revenue rises 21% to record high in 2008  Sino-US trade falls in second half of 2008

Exports grew 21.7 percent to $152.6 billion and imports rose 12.2 percent to $146.9 billion.

The total value of imports and exports in these special areas accounted for 28 percent of the country's processing trade volume last year, according to Customs figures.

The government established Shanghai Waigaoqiao Free Trade Zone, the first zone under special supervision of the Customs, in 1990. To date, China has 94 zones of this kind, including bonded processing and logistics zones and bonded ports.

Such specially supervised areas offer protective tariffs for imported goods and simplified customs procedures.