China Customs: Imports, exports in bonded zones up 17%

BEIJING, Jan. 31 (Chinese media) -- China Customs has said the total

value of imports and exports in its specially-supervised areas, mainly bonded

zones, were up 17 percent year-on-year to almost 300 billion U.S. dollars

in 2008.

Exports grew 21.7 percent to 152.6 billion U.S.

dollars and imports rose 12.2 percent to 146.9 billion U.S. dollars.

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 the Customs figure.

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.

The government is working to turn these specially

supervised areas more attractive to investors by enhancing functions such as

bonded processing and bonded logistics zones, while at the same time adding

functions like research and development, testing, maintenance, and commodity and

service trade to these areas.