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News

Wuhan applies for bonded port status

12 December 2012
Wuhan has submitted an application to the central government for its Yangluo terminals to be awarded bonded port status. Yu Ye, director of port management at Wuhan New Port Authorities, representing the provincial government, told YBS last week that a series of projects including on-site customs clearance have been carried out to facilitate the application and that approval is expected in the first half of next year.

Bonded port status means that overseas-bound goods entering the port will be regarded as exports, thereby triggering tax rebates where applicable, and imports entering the port will not attract import duty until they exit.

     
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