Yunnan pilot FTZ area begins bonded processing

The Honghe area of Yunnan pilot Free Trade Zone (FTZ) has recently seen its Jiayi Technological Company turn the imported materials into fine cell-phone spare parts, including lens cones, Mylar films, lens bases and others.

The Honghe area of Yunnan pilot Free Trade Zone. Online photo subject to deletion

The raw materials worth 202,000 USD were purchased from Hong Kong and entered the Honghe free trade area via the Hekong land port near Vietnam. This marks the beginning of the area’s bonded processing trade.

Bonded processing trade is the business activity where imported materials and finished products can be exempted from import-export duties and taxes when taking place in specially regulated areas.

 

Staff members work at Jiayi Technological Company. Online photo subject to deletion

"The business environment here is good, and the area has a favorable location for foreign trade,” said Li Junbin, deputy general manager of Jiayi Technology, adding sound transport facilities are good for his firm to conduct business.

Focusing on smart terminals and camera assembly, Jiayi Technology settled in the Honghe area in 2021, and its finished products are exported to India, the Middle East and other regions.

 

Staff members work at Jiayi Technological Company. Online photo subject to deletion  

Source: People’s Daily App; Trans-editing by Wang Shixue