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October 18, 2008, China’s State Department officially granted the approval of the establishment of Qianhaiwan Free Trade Port of Shenzhen Area (Bonded Port Area), this will be the 9th Free Trade Port after Qianwan Free Trade Port Area of Qingdao.
Qianhaiwan Free Trade Port Area of Shenzhen is programmed to occupy 3.7 square KM, which will direct connect with CCT. The major functions involve International transshipment, distribution, purchasing, entrepot trade and export processing. Major taxation police is: foreign inbound cargoes are protected from duty, and the taxes are to be paid once the cargoes enter domestic area; domestic outbound cargoes will enjoy the tax refund once entering the Free Trade Port Area; Cargo exchange within Free Trade Port Area are protected from value-added tax and excise.
CCT is 20 NM away from Hong Kong, located in the centre of PRD, with establishment of Qianhaiwan Free Trade Port, MCC will be handled even more flexibly, which will signify CCT will be a further more established global gateway in South China.
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