Yangshan Special Comprehensive Bonded Zone Achieves Remarkable Growth in Foreign Trade and Innovation

Over recent years, the Yangshan Special Comprehensive Bonded Zone has emerged as a pivotal player in stabilizing foreign trade within China, leveraging its strategic position as a transportation hub and instituting various innovative practices. Situated in the Lin Gang Special Area of the China Shanghai Pilot Free Trade Zone, the bonded zone reported an impressive import and export value of over 211 billion yuan (approximately $29.6 billion) during the first seven months of this year—an increase of 32% compared to the same period last year, surpassing the national average growth rate of 28.5%.

The surge in the import and export value of bonded maintenance, which rose by 31% year-on-year to 27.8 billion yuan, further solidified the zone's second-place ranking nationwide. Additionally, foreign investment within the zone exceeded 400 million yuan from January to July, reflecting a remarkable 101% year-on-year increase.

In alignment with the 14th Five-Year Plan (2021-2025), the zone is positioned to become a beacon for innovative trade practices. Among its initiatives, the integration of spot and futures markets, along with bonded delivery strategies, has been instrumental in assisting companies in navigating the complexities of the global market. As noted by Lin Yisong, head of the comprehensive bonded zone department, these innovations have proven particularly valuable amid the recent volatility in the international copper market.

For instance, the Yangshan Special Comprehensive Bonded Zone has successfully linked the London Metal Exchange, the Shanghai Futures Exchange’s international copper products, and domestic copper spot markets, enabling businesses to manage price fluctuations and reduce associated risks effectively. Consequently, the zone's total sales of goods reached an impressive 576.6 billion yuan in the first seven months, marking a year-on-year increase of 3.3%.

To enhance connectivity between domestic enterprises and international distribution centers, efforts have been made to facilitate rapid responses to global tariff adjustments and policy changes. For example, Shanghai’s South Port imported 38,573 vehicles in the first seven months, reflecting an 18% increase year-on-year, while vehicle exports surged by 30% to 315,640 units.

In response to the growing global demand for sustainable shipping solutions, the Yangshan Comprehensive Bonded Zone has also pioneered innovative businesses involving bonded liquefied natural gas, green methanol, biofuel oil, and ultra-low sulfur fuel bunkering, placing it at the forefront of low-carbon transformation in the industry. The bonded LNG bunker supply reached 431,600 cubic meters, ranking third globally, while methanol bunkering exceeded 30,000 tons, securing a second-place standing worldwide.

Digital transformation represents another significant aspect of the zone's innovative service offerings. In November, the launch of a digital platform for ship services marked a major milestone, facilitating the full digitalization of ship fuel bunkering processes.

This advancement is projected to reduce the empty sailing rate of oil ships by 30% if fully implemented, translating to a substantial annual saving of over 100,000 hours of waiting time at the Shanghai port. As the Yangshan Special Comprehensive Bonded Zone continues to evolve, its commitment to fostering trade efficiency and innovation is poised to further strengthen its role in the global marketplace.