The Tianjin Lingang Comprehensive Bonded Zone, the fifth of its kind in north China's Tianjin Municipality, officially launched closed customs operations on Friday.
Under the supervision of the Tianjin Lingang Customs, two transport vehicles carrying vibrating screens passed through the checkpoint and entered the bonded zone, marking the first bonded transaction completed there.
Approved by the State Council in June 2023, the Lingang Comprehensive Bonded Zone covers a planned area of 5.56 square kilometers. It is Tianjin's first customs special supervision area designed with a focus on marine economy.
With the start of closed customs operations, enterprises inside the bonded zone are eligible for a range of preferential tax policies.
Tianjin Customs has also introduced measures to facilitate customs clearance, further smoothing foreign trade logistics channels and supporting Tianjin's higher-level opening-up to the outside world.
North China's Tianjin puts its fifth bonded zone into closed customs operation
China's Minister of Commerce Wang Wentao outlined the key priorities of the 32nd Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade Meeting, which opened on Friday in Suzhou, East China's Jiangsu province.
In an interview with CGTN ahead of the two-day meeting, Wang said free trade, digital cooperation and green economy are high on the agenda of the meeting.
"The key areas include advancing regional economic integration and the Free Trade Area of the Asia-Pacific, supporting the World Trade Organization (WTO) in strengthening digital cooperation and developing green economy. At present, the international situation is marked by intertwined turbulence and chaos, with intensified geopolitical instability. The rise of unilateralism and protectionism poses serious challenges to the international economic and trade order, disrupting global and Asia-Pacific development. Against this backdrop, all parties have higher expectations for this trade ministers' meeting, hoping that it can build consensus and deliver outcomes," Wang said.
This year marks China's third time hosting the APEC meetings and the 35th anniversary of its membership.
By 2025, China had become the largest trading partner of 13 APEC economies. Trade between China and APEC economies reached 3.7 trillion U.S. dollars, accounting for 57.8 percent of China's total foreign trade.
China has signed 24 free trade agreements or economic and trade arrangements with 31 countries and regions, including 15 APEC economies. In recent years, China has also completed upgrades of free trade agreements with APEC economies such as Singapore and Peru.
The minister said that China has always been a firm supporter and an important contributor to APEC.
"We have actively shared our vast market and development opportunities with all parties. China's door to the world will only open wider and wider. Facing the common challenges, China will continue to fulfill its responsibilities as a major country, further deepen reform, expand high-standard opening-up, and continue to provide new opportunities for the Asia-Pacific region and the world with its new achievements in Chinese modernization," the minister said.
China's Commerce Minister outlines priorities for 32nd APEC trade ministers' meeting
