China’s largest free-trade harbor area opened in Tianjin

The first phase of the Dongjiang Bonded Harbor Area, China’ largest free-trade harbor area, opened for operation yesterday. The harbor area is located in a port city in northern Tianjian. It covers 4 square kilometers with warehouses, container terminals, processing and logistics zones. Li Kenong, deputy chief of China Customs, stated that “the area is set to enjoy the most favorable policies in taxation and foreign exchange polices and offers comprehensive services in international shipping, purchase, trade, processing and logistics.”

The second phase of the harbor is still under construction, and is set to be operational by 2010. It will cover an additional 6 square kilometers and be able to handle 4 million containers per year.