The comprehensive bonded zone in Lhasa, capital of southwest China’s Tibet Autonomous Region, passed acceptance review on Friday, becoming the first zone of its kind in the region.
Comprehensive bonded zones are special customs supervision areas. The State Council approved the establishment of one such zone in the region in April 2020.
An acceptance and inspection team including personnel from the General Administration of Customs and the National Development and Reform Commission took part in the acceptance process via video link. They examined the construction of infrastructure and regulatory facilities in the zone and issued their acceptance.
Located in the economic and technological development area of Lhasa, the comprehensive bonded zone is adjacent to the city’s freight transport hub of Qinghai-Tibet Railway and approximately 40 kilometers away from Lhasa Konggar International Airport.
The comprehensive bonded zone and supporting facility areas cover nearly 4.9 square kilometers in total.
Tibet’s foreign trade exceeded 4 billion yuan (about 597.2 million U.S. dollars) last year, an increase of 88.3 percent year on year.
The establishment of the comprehensive bonded zone is expected to inject new vitality into the region’s foreign trade and economy, according to Lhasa Customs.