China-DPRK border trade zone approved
(Xinhua)
Updated: 2015-07-14
SHENYANG - A border trade zone between China and the Democratic People's Republic of Korea (DPRK), located in Northeast China's Liaoning province, has been approved, the provincial government announced on Monday.
According to the city's foreign trade bureau, the Guomenwan border trade zone covers 40,000 square meters of land in the border city of Dandong. It is expected to open in October.
Residents living within 20 kilometers of the border will be able to exchange commodities with people from the DPRK and enjoy a duty-free policy on goods purchased for less than 8,000 yuan ($1,288) per day, authorities with the bureau said.
Dandong is the key hub for trade, investment and tourism between China and the DPRK. There are more than 600 border trade enterprises in the city, and trade with the DPRK accounts for 40 percent of the city's total trade turnover.