China has approved the establishment of Wuhan Dongxihu bonded logistics centre. It will act as a bonded warehouse and export supervision warehouse and will offer a number of preferential policies for international trade.
It is the fourth bonded logistics centre along the Yangtze and is situated 18km from central Wuhan, 13km from Hankou Railway Station and 24km from Wuhan Tianhe International Airport.
Chongqing’s bonded area will result in annual savings for the municipality’s motorcycle and auto industries of Rmb30m in freight charges and Rmb10m in purchase costs, said Chongqing Foreign Trade and Economic Relations Commission. Auto and motorcycle manufacturers can directly import and export their products from Chongqing. In the first 10 months of 2008, Chongqing exported more than 3m motorcycles for US$1.178bn, accounting for 60 per cent of the municipality’s export value, said the commission.