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Viewing report
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Ningbo Bonded Logistic Zone
China Knowledge Press, June 2011, Pages: 25
Ningbo Bonded Logistics Zone rated “BB” by China Knowledge in a research report published today. The industrial park, with a planned area of 0.95 sq km, was set up upon the approval of the State Council in 2004. The zone, located within the Ningbo Economic and Technical Development Zone, is adjacent to the Ningbo Free Trade Zone and the Ningbo Export Processing Zone.
It lies behind Phase IV of the Ningbo-Zhoushan port, which was the fourth-largest port in China in terms of container throughput in 2008, and is situated to the south of Beilun Harbor of Ningbo-Zhoushan Port, bordered by Hangzhou Bay to the north and Taizhou to the south. The Shanghai-Hangzhou-Ningbo Highway runs directly from this development zone.
Ningbo Bonded Logistics Zone enjoys exemptions from duties, bonded duties and license fees, as do Ningbo Free Trade Zone and Ningbo Export Processing Zone. It also has special policies in place to allow enterprises to claim taxes for their goods after customs clearance.
Warehousing and logistics-related industries are encouraged in this zone. The zone’s functions include international transferring, international distribution, international and domestic purchasing and simple circulation processing.
By the end of 2008, 22 firms, including Watts from the U.S., OOCL from Hong Kong, DHL from Germany and Formosa from Taiwan, had started doing business via the logistics zone for the sake of cost reduction.
Total foreign investment had reached US$110 million by the end of 2008.
Industrial parks rated BB are considered attractive at a below-average level. Industrial parks with this rating are typically either in the development stage or are lacking certain important elements. There are 50 with BB rating among 254 national and municipal level industrial parks.
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