Zhangjin Comprehensive Bonded Zone [Photo/dzwww.com]

Jinan government recently introduced guidelines to further the development of its two comprehensive bonded zones – the Jinan Comprehensive Bonded Zone and the Zhangjin Comprehensive Bonded Zone.

More enterprises are expected to set up operations in the two zones in the fields of processing and manufacturing, R&D and design, logistics distribution, testing and maintenance, and sales and services.

By 2023, the number of enterprises in the two comprehensive zones is expected to reach 300, including more than 100 cross-border e-commerce enterprises. By 2023, cross-border e-commerce transactions are expected to exceed 3 billion yuan ($462.03 million).

The Jinan Comprehensive Bonded Zone will focus on developing biomedicine industry and expanding international trade in bulk commodity trading, cross-border e-commerce, and bonded logistics. It will also establish OEM (original equipment manufacturer) factories for the biological medicine sector.

The Zhangjin Comprehensive Bonded Zone aims to create a model comprehensive bonded zone focusing on science and innovation. It will promote bonded research and development, testing and maintenance, supply, and cross-border e-commerce in the fields of new-generation information technology and biomedicine.

The zone will give full play to the strengths of the China (Shandong) Pilot Free Trade Zone Jinan Area, the Jinan Innovation Zone, and the comprehensive bonded zone, and serve the construction of the Shandong Institute of Industrial Technology and the Qilu Sci-tech Innovation Corridor.

The government will also seize upon opportunities taken by the Regional Comprehensive Economic Partnership to further promote cross-border e-commerce and deepen industrial and supply chain cooperation with Japan and South Korea.