Tianjin Lingang Comprehensive Bonded Zone officially closed for operation

On March 27, Tianjin’s fifth comprehensive bonded zone—Tianjin Lingang Comprehensive Bonded Zone—was officially put into operation and began closed-operations. That day, under the supervision of Tianjin Lingang Customs, which is affiliated with Tianjin Customs, two transport vehicles carrying vibrating screens entered the Lingang bonded zone smoothly through the checkpoint, marking the successful landing of the first bonded business in the Lingang comprehensive bonded zone. The Tianjin Lingang Comprehensive Bonded Zone was established with approval from the State Council in June 2023. It has a planned area of 5.56 square kilometers and includes functional areas such as port operations and bonded operations. It is Tianjin’s first customs special regulatory area characterized by the marine economy, and it will focus on developing advantageous industries such as marine engineering equipment and high-end manufacturing. After the zone’s closed-operations commenced, enterprises within the zone may, in accordance with the law, enjoy tax preferential policies such as duty-free treatment for machinery and equipment entering the country and capital construction materials, bonded status for goods entering the zone from the first line, tax rebates for goods entering the zone from the second line, and selective taxation upon domestic sales. Tianjin Customs will also roll out “smart bonded zone” clearance facilitation measures such as “one declaration with multiple reports,” to improve the efficiency of customs clearance, keep the outbound trade route for exporting goods running smoothly, and support high-level opening up to the outside world. (CCTV News)