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30 July
Business

Shenzhen Port in the South of China will become a free trade zone

Shenzhen Port is the common name of a number of ports along the coast. Their docks hold the third largest number of containers in the world.

The thriving city of Shenzhen in Guangdong Province in southern China will turn its port into a free trade zone by the end of 2020 with further reduction of bureaucratic procedures and optimization of customs clearance procedures.

According to the guidelines published by the municipal government, it is planned to reduce the time of customs clearance of cargo shipments in the port by a third by 2020 by optimizing procedures. In addition, it is planned to develop the Shenzhen and Hong Kong ports jointly, turning them into an international centre for sea shipments.

It is to be recalled that the Chinese authorities place a premium on the development of free economic zones and the liberalization of a number of policies and procedures in their territory. So, earlier, in April 2018, it became known that the southern island province of Hainan would be turned into a free trade port with favourable conditions for foreigners.

Resource: regnum.ru

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