China-Kazakhstan Horgas International border free trade zone to open
The China-Kazakhstan Horgas International Border Cooperation Centre is to open before October allowing the freer movement of Chinese, Kazakhstani and other nationals and their goods within the centre area, reports Xinhua.
The centre's construction began in 2007 with an investment of US$138 million. The 5.28-square kilometre facility, jointly operated by the Chinese and Kazakhstani governments, under the framework of Shanghai Cooperation Organisation, and a test zone for China's extended opening-up policy.
The facility provides sites for trade negotiation, commodity show and sale, warehouse and transport, hotels, commercial and financial service.
Citizens of all countries will be allowed to stay there on 30-day visas. The centre itself will form a separate self-managed quasi-jurisdiction outside of both China and Kazakhstan.
Citizens of both China and Kazakhstan working in the centre will be subject to their respective domestic laws and regulations, relevant intentional conventions and Sino-Kazakh agreements. Currencies used for the payment and transfers of funds in connection with goods and services obtained at the centre will be fully and freely convertible.
According to preferential policies put in place by Beijing, goods transported into the zone and support facilities of the centre will be processed based on customs clearing procedure for exported products and any taxes paid will be refunded. Tourists who enter the Chinese zone in the centre will each be allowed to carry on their persons duty-free goods worth up to CNY8,000 (US$1,230) per day.
The centre's construction began in 2007 with an investment of US$138 million. The 5.28-square kilometre facility, jointly operated by the Chinese and Kazakhstani governments, under the framework of Shanghai Cooperation Organisation, and a test zone for China's extended opening-up policy.
The facility provides sites for trade negotiation, commodity show and sale, warehouse and transport, hotels, commercial and financial service.
Citizens of all countries will be allowed to stay there on 30-day visas. The centre itself will form a separate self-managed quasi-jurisdiction outside of both China and Kazakhstan.
Citizens of both China and Kazakhstan working in the centre will be subject to their respective domestic laws and regulations, relevant intentional conventions and Sino-Kazakh agreements. Currencies used for the payment and transfers of funds in connection with goods and services obtained at the centre will be fully and freely convertible.
According to preferential policies put in place by Beijing, goods transported into the zone and support facilities of the centre will be processed based on customs clearing procedure for exported products and any taxes paid will be refunded. Tourists who enter the Chinese zone in the centre will each be allowed to carry on their persons duty-free goods worth up to CNY8,000 (US$1,230) per day.