Nantong Comprehensive Bonded Zone's First Bonded Display Business Successfully Completed

This article is reprinted from Nantong Daily

News from our newspaper (Correspondent Fe Chenglong, Reporter Wu Xiaoyun): Yesterday, the first batch of imported red wine that was exported from the Nantong Comprehensive Bonded Zone using the bonded display mode all successfully returned to the zone after nearly six months of outside display. This marks the full process closure and successful implementation of Nantong’s first bonded display business, and also represents another important achievement in Nantong Customs’ ongoing efforts to deepen institutional innovation in the bonded zone, optimize regulatory services, and support high-quality development of new foreign trade formats.

Bonded display is a key new bonded business cultivated in the comprehensive bonded zone and is also one of the important reform measures promoted by the General Administration of Customs to advance high-quality development of bonded zones. Compared to traditional methods that require temporary import/export procedures or paying taxes before display, this business allows enterprises to transport bonded goods to designated locations outside the zone for display under the condition of providing effective guarantees. Additionally, the business supports cross-province and cross-city displays, significantly reducing enterprises’ capital occupation and operational costs, and providing a convenient channel for expanding the domestic market for imported consumer goods. “The smooth closure of the first bonded display business fully verifies the feasibility and maturity of this model in Nantong’s bonded zone, and has accumulated valuable experience for subsequent replication and promotion,” said Yan Ke, head of Section 1 of the Special Zone Management Division of Nantong Customs.

It is reported that Nantong Customs will take this first successful case as an opportunity to continue deepening regulatory innovation, optimize service provision, increase policy publicity and enterprise guidance, and encourage more enterprises to make good use of the bonded display policy to expand categories such as red wine, cosmetics, and daily consumer goods.