The Establishment of the Yantian Port Bonded Logistics Park enables YICT to become not only an international port but also the preferred terminal for multinational purchasers specialising in world trades. Enjoying two advantages of a more beneficial tax policy and geographical proximity to YICT, purchasers deliver their goods for import and export directly to the park. After the process of storing, consolidation and deconsolidation, and simple processing, the goods are distributed, shipped and sold to 3rd party countries. The complete facilities combined with convenient and swift Customs clearance help the park attract many well-known multinational purchasers and international logistics enterprises, thus facilitating the development of port related industries in the region.

Closely adjacent to YICT, the park covers a total area of 0.96 square kilometres, divided into southern and northern sections. The park joins YICT in the south, with an area of 0.71 square kilometres, include warehouse facilities and a container yard. The northern section, located to the north of Shenyan Highway, occupies an area of 0.79 square kilometres. An end-closed flyover links these two sections.

Officially operational on 31 March 2006, the park is one of the best park-port interactive policy examples in the country. The park connects directly to the terminals via customs supervisory channels. Customs declaration is conducted by means of electronic customs release round the clock. The park-port information can be exchanged among the Customs, shipping lines, and enterprises and administrative departments based in the park via the Internet.

As an important support in the Yantian Port logistics industry, the Yantian Port Bonded Logistics park has been granted a number of beneficial Customs clearance concessions. Besides exemption from export duties and enjoyable of Customs special supervision for all cargoes inside the park, domestic cargo taxes are refunded upon entering the park, resulting in operational cost reduction of the enterprises. Meanwhile, transit cargo can be deconsolidated in the park. Before implementation of the new policy, only full containers were allowed to move in and out of the park.

In March 2006 YICT and the warehousing and logistics enterprises inside the Yantian Port set up the “Association of Yantian Port Warehousing and Logistics Enterprises” to better coordinate with each other, facilitate communication and cooperation, and provide support and services for the development of Yantian Port warehousing logistics industry. 

For further information, please visit http://www.ypf.com.cn.