Ningbo Free Trade Zone (Bounded Zone) was established with the approval of the State Council in November 1992. It is the only free trade zone in Zhejiang Province. The bonded zone has the functions of import and export processing, international trade, bonded warehousing, and commodity display.
The functions of the bonded zone are "bonded warehousing, export processing and entre-pot trade". The bonded zone enjoys the policy of "certificate free, tax free and bonded" and implements the operation mode of "inside border, outside customs". It is one of the economic zones with the highest degree of opening up, the most convenient operation mechanism and the most preferential policies in China.
Advantages to declare for import and export through the bonded area:
First of all, the bonded area is more convenient for entre-pot trade. Goods transported into the bonded area can be stored, refitted, classified, mixed, exhibited, processed and manufactured. Foreign goods stored in the bonded area do not have to pay import tariffs, but can be freely imported and exported.
Only storage fees and a small amount of fees need to be paid, but tariffs need to be paid if they want to enter the customs territory.
Foreign goods enter the bonded zone, goods leave the zone and enter the domestic market. Customs declaration procedures shall be handled according to the relevant provisions of goods import, and the actual state of goods shall be taxed;
Domestic goods entering the zone are regarded as exports, and tax rebates are implemented; VAT and consumption tax are not levied on goods transactions between enterprises in the bonded area.
The zone mainly serves the functions of international transit, international procurement, international distribution, international transit trade and bonded processing, supplemented by the functions of commodity service transactions, investment and financing insurance, and supported by the service functions of legal affairs, import and export display, and has the functions of gathering and dispersing production factors and transferring important materials.
Process analysis of customs declaration in Ningbo Free Trade Zone:
General goods entering the bonded area from China:
l Go through the export customs declaration procedures, and the goods can be stored in the warehouse in the bonded area or directly transferred to the first-line port.
General goods entering the bonded area warehouse from abroad:
l Apply for the entry filing list, enjoy the bonded warehousing policy, and can store, sort, label, etc. goods in the bonded area warehouse.
One-day-tour in the bonded area:
l Domestic goods enter the bonded area, and then import from the bonded area to China through customs declaration, and complete the enterprise factory transfer and export to domestic sales.
Consolidation of export goods:
l Many domestic enterprises export goods to bonded warehouses, sort goods in bonded warehouses, combine and pack goods, and then put together cabinets for export abroad.
Import allocation:
l A large number of foreign goods enter the Bonded Zone warehouse first, enjoy the bonded warehousing function, and can be declared and imported into China in batches in the Bonded Zone warehouse, which can reduce the financial pressure of one-time tax import for enterprises.
Advantages of customs declaration in Ningbo Free Trade Zone:
1. Low cost of customs declaration fee: customs declaration fee for one-in and one-out of the processing zone, without miscellaneous fees.
2. There is no need for commodity inspection (limited to articles with supervision condition B).
3. Tax refund: for goods entering the Export Processing Zone, the export tax refund copy can be printed after customs declaration on the same day. It greatly relieves the pressure of funds for enterprises, and the smooth flow of funds also enables enterprises to produce better. In addition, it can solve the problems of inconsistent customs declaration materials and different commodity codes of both parties.
4. Time cost: the customs declaration materials are sent in advance without time limit, and the entry and exit can be completed immediately, saving time cost and other additional costs if the customs declaration cannot be completed on the same day.
The time and tax advantage of the bounded area make Ningbo Bounded Zone one of the most popular port for cross boarder import good to sell to domestic customers. In January 2022, the Customs Department reviewed and approved a total of 383000 bills of e-commerce import declarations for cross-border trade in Ningbo Free Trade Zone, with a value of RMB 106 million yuan. A total number of 260000 consumers from all over the country purchased through cross-border platforms.
Multiple players in CBEC import build their bases, warehouses and distribution center in the Bounded Zone, and the infrastructure is mature and convenient.
WKI can help you integrate into the network of the players and make a launch smoothly and pain free.
Contact us to find out more
The functions of the bonded zone are "bonded warehousing, export processing and entre-pot trade". The bonded zone enjoys the policy of "certificate free, tax free and bonded" and implements the operation mode of "inside border, outside customs". It is one of the economic zones with the highest degree of opening up, the most convenient operation mechanism and the most preferential policies in China.
Advantages to declare for import and export through the bonded area:
First of all, the bonded area is more convenient for entre-pot trade. Goods transported into the bonded area can be stored, refitted, classified, mixed, exhibited, processed and manufactured. Foreign goods stored in the bonded area do not have to pay import tariffs, but can be freely imported and exported.
Only storage fees and a small amount of fees need to be paid, but tariffs need to be paid if they want to enter the customs territory.
Foreign goods enter the bonded zone, goods leave the zone and enter the domestic market. Customs declaration procedures shall be handled according to the relevant provisions of goods import, and the actual state of goods shall be taxed;
Domestic goods entering the zone are regarded as exports, and tax rebates are implemented; VAT and consumption tax are not levied on goods transactions between enterprises in the bonded area.
The zone mainly serves the functions of international transit, international procurement, international distribution, international transit trade and bonded processing, supplemented by the functions of commodity service transactions, investment and financing insurance, and supported by the service functions of legal affairs, import and export display, and has the functions of gathering and dispersing production factors and transferring important materials.
Process analysis of customs declaration in Ningbo Free Trade Zone:
General goods entering the bonded area from China:
l Go through the export customs declaration procedures, and the goods can be stored in the warehouse in the bonded area or directly transferred to the first-line port.
General goods entering the bonded area warehouse from abroad:
l Apply for the entry filing list, enjoy the bonded warehousing policy, and can store, sort, label, etc. goods in the bonded area warehouse.
One-day-tour in the bonded area:
l Domestic goods enter the bonded area, and then import from the bonded area to China through customs declaration, and complete the enterprise factory transfer and export to domestic sales.
Consolidation of export goods:
l Many domestic enterprises export goods to bonded warehouses, sort goods in bonded warehouses, combine and pack goods, and then put together cabinets for export abroad.
Import allocation:
l A large number of foreign goods enter the Bonded Zone warehouse first, enjoy the bonded warehousing function, and can be declared and imported into China in batches in the Bonded Zone warehouse, which can reduce the financial pressure of one-time tax import for enterprises.
Advantages of customs declaration in Ningbo Free Trade Zone:
1. Low cost of customs declaration fee: customs declaration fee for one-in and one-out of the processing zone, without miscellaneous fees.
2. There is no need for commodity inspection (limited to articles with supervision condition B).
3. Tax refund: for goods entering the Export Processing Zone, the export tax refund copy can be printed after customs declaration on the same day. It greatly relieves the pressure of funds for enterprises, and the smooth flow of funds also enables enterprises to produce better. In addition, it can solve the problems of inconsistent customs declaration materials and different commodity codes of both parties.
4. Time cost: the customs declaration materials are sent in advance without time limit, and the entry and exit can be completed immediately, saving time cost and other additional costs if the customs declaration cannot be completed on the same day.
The time and tax advantage of the bounded area make Ningbo Bounded Zone one of the most popular port for cross boarder import good to sell to domestic customers. In January 2022, the Customs Department reviewed and approved a total of 383000 bills of e-commerce import declarations for cross-border trade in Ningbo Free Trade Zone, with a value of RMB 106 million yuan. A total number of 260000 consumers from all over the country purchased through cross-border platforms.
Multiple players in CBEC import build their bases, warehouses and distribution center in the Bounded Zone, and the infrastructure is mature and convenient.
WKI can help you integrate into the network of the players and make a launch smoothly and pain free.
Contact us to find out more
