THE first stage of the Qingdao Qianwan Free Trade Port Area opened Nov. 1.

    The first stage includes the Qingdao Free Trade Logistics Park, two bulk cargo terminals and the third stage of Qingdao Qianwan Container Terminal Co., Ltd.

    A combination of free trade area and port, the opening of the park puts an end to double customs declarations for inbound and outbound goods, which were respectively required by the free trade area and port.

    Simplified customs procedures have improved efficiency in the park.

    A manager from Air Sea Group said the opening of the park was “conducive to the development of logistics companies.” Logistics costs have decreased from 800 yuan to 200 yuan per container and declaration time has dropped from two or three days to one day.(Martin Li, Luo Qing)