When the Yangtze River "Hand in Hand" Free Trade Zone: Resonance between the Golden Waterway and the Opening Dividend

2023-08-08

The Yangtze River stretches eastward like a golden ribbon, and multiple free trade pilot zones such as Chongqing, Hubei, and Shanghai adorn it like pearls. On this ribbon, the river to sea effect of the Golden Waterway resonates with China's major measures of opening up to the outside world, jointly writing a new chapter to accelerate the construction of a new development pattern and promote high-quality development. The opening door is expanding from the upstream Sichuan Free Trade Zone to the downstream Shanghai Free Trade Zone and Lingang New Area. Relying on the advantages of connecting rivers and seas, many free trade zones are accelerating the construction of open front positions. In mid July, the international shipping and logistics company Denmark Maersk's "Beautiful Maersk" cargo ship departed from Yangshan Port in Shanghai, carrying 384 containers to Tianjin Port and 821 containers to Qingdao Port, becoming the company's another "coastal carrier" cargo ship departing from Yangshan Port. In May 2022, the "coastal pick-up" business of foreign liner ships landed in Shanghai, marking an important breakthrough in the opening up of China's international shipping industry. For shipping companies, this business can help them optimize their route network and release more transportation capacity. Wu Bingqing, President of Maersk Greater China, said that as of now, Maersk has obtained permits from the Ministry of Transport for a total of 66 ships to carry out pilot coastal freight forwarding business for foreign trade containers between Qingdao, Dalian, Tianjin, and Shanghai Yangshan Port. The Guoyuan Port Area of Chongqing Free Trade Zone has implemented the second batch of pilot export port tax refund policies in China. Before implementing the tax refund policy at the port of departure, goods must leave Shanghai Yangshan Port and complete customs clearance procedures before applying for tax refund, which usually takes 2 months. "Wang Jianguo, the relevant person in charge of China Aluminum Southwest Aluminum Plate and Strip Co., Ltd., said that after the goods are released at Chongqing Guoyuan Port, the customs will immediately automatically generate the export declaration form at the port of departure. The company can apply for a tax refund with this form, and it only takes 2 to 3 days to receive the export tax refund, which gives them more confidence in expanding overseas markets. New energy is accelerating its growth in Baiyang Port, Yichang City, Hubei Province, along the Yangtze River. A new bonded logistics park is under construction. In the future, a new Three Gorges Bonded Logistics Center will be built here to fill the functional gaps of Baiyang Port. In the past, due to the lack of bonded functions in Baiyang Port, many export-oriented enterprises had to transfer their import and export business to foreign companies. The relevant person in charge of the Yichang Area Management Committee of the Hubei Free Trade Zone introduced that with the integrated operation of the bonded logistics center and Baiyang Port, the problem of "seeking distance from the nearest" for enterprises has been solved. If calculated based on the import value of 20 billion yuan, enterprises can save nearly 60 million yuan in financial costs per year, and can also promote the increase of Yichang's foreign trade volume by more than 50%. Multinational enterprise Kangning Company is an important part of the entire industrial chain of Chongqing's "core screen and core network", and has established glass substrate production bases in both Chongqing and Sichuan. Due to the need to import raw materials for the production of glass substrates from overseas, after the closure and operation of the Orchard Bonded Logistics Center located in the Chongqing Free Trade Zone, Corning Company immediately set up a raw material storage and transportation center in the area. Every week, raw materials from overseas arrive at the bonded warehouse of Guoyuan Port through river sea intermodal transportation, and are then distributed to production bases in Chongqing and Sichuan during production. This alone can save Corning Company over 5% in logistics costs. Through the river

Edit:He Chuanning    Responsible editor:Su Suiyue

Source:Xinhua

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