BEIJING, July 14 (Xinhuanet) -- The Yinchuan Comprehensive Bonded Zone, located in northwest China's Ningxia Hui Autonomous Region, is the core engine to develop an open economy, according to the People’s Daily Overseas Edition.
The zone has achieved leapfrog development since it started to operate in December 2013.
The import and export trade volume ranked 12th among all the comprehensive bonded zones in China in the year of 2014, the reports illustrated.
The bonded zone has been recently oriented to learn the successful experience of Shanghai Pilot Free Trade Zone to accelerate its transformation and upgrading, the reports added.
Particularly noteworthy is that, cross-border trade centered on e-commerce has been settled, a move to further open up the market of the Middle East region for China’s small and medium sized enterprises.
The bonded zone has signed cooperative agreements with Dubai's e-commerce enterprises, adding a new channel for China’s westward opening-up process and promoting the docking between the zone and the Arab states, according to the reports.
