Dalian inaugurates free-trade harbour
China has inaugurated a harbour area with preferential tax rates in the northeastern city of Dalian, in a major step towards forming a free trade zone between China, Japan and the Republic of Korea (ROK).
The Dayaowan Bonded Harbor Area, located at the Dagushan Peninsula in the northeastern part of Dalian, enjoys preferential taxation and foreign exchange policies.
The first phase of the area covers 3.06 square kilometers (km) and includes warehouses, cold storage facilities, a container terminal and processing and logistics services. About 200 million yuan ($25 million) has been spent on the construction of the area since August 31 last year, when the State Council approved its establishment.
The second phase is expected to be finished by the end of next year, expanding the area to 6.88 square km.
Dalian is China's seventh largest port, and handled 200 million tonness of cargo and 30 million containers (TEUs) last year.
The Dayaowan Bonded Harbor Area is the second of its kind in China, following the operation of the Shanghai-based Yangshan Bonded Harbor Area in December 2005. The State Council has also approved a third such area, the Dongjiang Bonded Harbor Area which is under construction in north China's Tianjin Municipality.
The Dayaowan Bonded Harbor Area, located at the Dagushan Peninsula in the northeastern part of Dalian, enjoys preferential taxation and foreign exchange policies.
The first phase of the area covers 3.06 square kilometers (km) and includes warehouses, cold storage facilities, a container terminal and processing and logistics services. About 200 million yuan ($25 million) has been spent on the construction of the area since August 31 last year, when the State Council approved its establishment.
The second phase is expected to be finished by the end of next year, expanding the area to 6.88 square km.
Dalian is China's seventh largest port, and handled 200 million tonness of cargo and 30 million containers (TEUs) last year.
The Dayaowan Bonded Harbor Area is the second of its kind in China, following the operation of the Shanghai-based Yangshan Bonded Harbor Area in December 2005. The State Council has also approved a third such area, the Dongjiang Bonded Harbor Area which is under construction in north China's Tianjin Municipality.