Sources said on July 24 that GuangZhou Baiyun Comprehensive Bonded Area, the third one in time and the biggest one in size, had been formally approved by the State Council to be established in Guangzhou.

The total area of Guangzhou Baiyun Comprehensive Bonded Area, which covers parts of Huadu and Baiyun District, is 7.385 square kilometres. The north area is 2.192 square metres, the middle area 0.663 square metres, and the south area 4.53 square kilometres. The north and middle area are located in Huadu District, the south area in Zhongluotan Town, Baiyun District.

The Guangzhou Baiyun Comprehensive Bonded Area will be built into a comprehensive special function area combining customs clearance, bonded processing, bonded logistics, import and export trade, financial services, and R&D, with the focus on developing aviation industry cluster including aviation logistics, business exhibition, and electronic information. According to the relevant regulations, the enterprises who settle in the Area will enjoy the preferential policy of certificate exemption, tax exemption, and in bond. The products made in china will enjoy tax rebate after entering the Area while those made in foreign countries may enjoy tax exemption after getting into the Area. “The Bonded Area is estimated to bring about hundreds of billions of business opportunities.” said a responsible person of Baiyun District Government before the Bonded Area was awaiting approval.