QINGDAO Free Trade Port Area has been increasingly favored by inland enterprises for its unique policies and functions.

    A combination of a free trade area and port has put an end to double customs declarations for inbound and outbound goods, which were formerly required by the free trade area and port.

    The area has stepped up publicity since opening on Nov. 1, attracting flows of logistics, cash and information from central and western China.

    “Almost 99 percent of our products are for export. The advantages of the port area can save us around 2,000 yuan for each container,” said a manager with Shandong Aoshi Group, a clothes company in Tai’an which has established a branch in the port area. The preference policies in the port area help companies get taxes refunded, lowering exporting cost and shorten export and import time.

    The port area has attracted more than 3,000 enterprises for bonded trade and logistics operations from more than 20 provinces and municipalities, which can save enterprises 200 million yuan in production cost each year. The port area has boomed the industrial development not only in Shandong Province, but also in regions along the Yellow River.

    (Martin Li, Duan Xiaodong)