The State Council Approves Establishment of Guangzhou Knowledge City Comprehensive Bonded Zone

Source: 粤港澳大湾区门户网

A press conference was jointly held by the Guangzhou Development Zone and Huangpu District (黃埔區) on 20th November, to announce the approval of Guangzhou Knowledge City Comprehensive Bonded Zone (廣州知識城綜合保稅區). The State Council has officially approved the integration and optimisation of Guangzhou Bonded Zone and Guangzhou Export Processing Zone into Guangzhou Knowledge City Comprehensive Bonded Zone, marking the first case of simultaneous relocation and optimisation of two special customs supervision areas in Guangdong.

This is the fourth comprehensive bonded zone approved by the State Council in Guangzhou and the second one approved by the State Council in Guangzhou Development Zone and Huangpu District.

Covering an area of 0.82 square kilometers, Guangzhou Knowledge City Comprehensive Bonded Zone possesses basic functions such as bonded processing, bonded logistics, and bonded services, making it an important platform for an open economy. The planned area of the comprehensive bonded zone is located in the northern part of China-Singapore Guangzhou Knowledge City, adjacent to the Biomedical Value Park and the Advanced Manufacturing Park. This location facilitates the provision of supporting bonded logistics and processing services to enterprises. Once completed, it will promote the integration of R&D, incubation, production and foreign trade in Knowledge City. It will meet the demands of strategic emerging industries for bonded processing, bonded logistics, and bonded research and development policies, enabling Knowledge City enterprises and products to better integrate into the international industrial chain, value chain, and supply chain. The goal is to create an industry-based comprehensive bonded zone.

Guangzhou Knowledge City Comprehensive Bonded Zone adopts a model of simultaneous declaration and investment attraction, with a focus on attracting strategic emerging industries such as biomedicine, intelligent manufacturing, new-generation information technology, and new energy and materials. It aims to develop an industry development pattern of bonded plus research and development design, incubation of achievements, high-end manufacturing, testing and maintenance. Currently, projects such as Top Ideal, Zhi Te Qi, Xuan Yi Biotech (軒一生物), and Singapore International Logistics have expressed their intention to invest and develop in the zone.

“As a biopharmaceutical company, the demand for core raw materials is significant, and after settling in the comprehensive bonded zone, there has been a noticeable improvement in terms of reduced import costs and increased efficiency for critical instruments and equipment. The comprehensive bonded zone provides a more open platform that is highly beneficial for us in terms of technological innovation and product structural transformation," said Jiang Huafeng, Party Branch Secretary and Manager of the Expansion Department at Guangzhou Zhi Te Qi Biotechnology Co., Ltd. (廣州智特奇生物科技股份有限公司黨支部書記、拓展部經理江華峰)

The Extensive Benefits and Seamless Procedures of China's Comprehensive Bonded Zones

With the establishment of Guangzhou Huangpu Free Trade Zone and Guangzhou Knowledge City Comprehensive Bonded Zone, Guangzhou Development Zone now possesses two national-level platforms for opening up to the outside world, one in the south and the other in the north. This signifies a new phase in Guangzhou's history of opening up to the world.

The comprehensive bonded zones in Guangzhou offer enterprises benefits like bonded import, tax refunds, and exemption from taxes for intra-zone transactions. They enable activities such as high-end manufacturing, research and development, maintenance, and leasing. The integration of industries within and outside the zones promotes integrated supply chains and overall business growth, driving Guangzhou's open economy and facilitating domestic and foreign trade operations.

Fostering Collaboration and Policy Integration: The China-Singapore Guangzhou Knowledge City and Comprehensive Bonded Zone

The China-Singapore Guangzhou Knowledge City and the Guangzhou Knowledge City Comprehensive Bonded Zone have synergised policies and fostered an open and knowledge-based economy. As a flagship project of China-Singapore cooperation, the Knowledge City serves as a hub for deepening foreign collaboration and enjoys the benefits of the Free Trade Zone and the Comprehensive Bonded Zone. It facilitates investment andThe China-Singapore Guangzhou Knowledge City and the Guangzhou Knowledge City Comprehensive Bonded Zone have combined policies to promote an open and knowledge-based economy. As a flagship project of China-Singapore cooperation, the Knowledge City serves as a hub for foreign collaboration, benefiting from the Free Trade Zone and the Comprehensive Bonded Zone. It facilitates investment and trade experimentation, enhances the industrial innovation ecosystem, and strengthens integration into international markets.

Synergies between Guangzhou Development Zone and Huangpu District

Guangzhou Development Zone and Huangpu District are key areas driving Guangzhou's economy, innovation, and openness. They attract advanced manufacturing industries and offer extensive benefits within comprehensive bonded zones, including bonded import, tax refunds, and exemption from value-added tax. The integration of industries within and outside the zones promotes supply chain development and lowers operating costs. The Guangzhou Knowledge City Comprehensive Bonded Zone, in collaboration with Huangpu Free Trade Zone, aims to create a distinctive development pattern, bolstering industrial chains and enhancing international competitiveness. It focuses on strategic emerging sectors like biomedicine and intelligent manufacturing, fostering bonded research, development, and design centers. The zones play a significant role in the region's trade and foreign investment, supporting the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area.

Disclaimer: This document has been translated into English.  If there is any inconsistency or ambiguity between the English version and the Chinese version, the Chinese version shall prevail. The full text of the article, in Chinese, can be found on 粤港澳大湾区门户网 Weixin Official Account.