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Bonded Logistics Park
A bonded logistics park is a type of special economic zone. Trade arrangements are similar to that of a bonded warehouse but over a specific geographic area. Sometimes with international port capabilities. Goods may be stored, manipulated, or undergo manufacturing operations without payment of duty. China China’s bonded logistic parks have similar rules to free-trade zones (another specific type of special economic zone) except for export VAT refund. Export VAT refund is eligible for a Chinese company once their goods enter the park. Locations * Zhangjiagang Bonded Logistics Park, Jiangsu province * Yantian Port Bonded Logistics Park, Guangdong province See also * Entrepôt * Free economic zone * Free-trade zone * List of free economic zones In special economic zones business and trades laws differ from the rest of the country. The term, and a number of other terms, can have different specific meanings in different countries and publications. Often they have relaxe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Special Economic Zone
A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically encompass investing, taxation, trading, quotas, customs and labour regulations. Additionally, companies may be offered tax holidays, where upon establishing themselves in a zone, they are granted a period of lower taxation. The creation of special economic zones by the host country may be motivated by the desire to attract foreign direct investment (FDI). The benefits a company gains by being in a special economic zone may mean that it can produce and trade goods at a lower price, aimed at being globally competitive. In some countries, the zones have been criticized for being l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bonded Warehouse
A bonded warehouse, or bond, is a building or other secured area in which dutiable goods may be stored, manipulated, or undergo manufacturing operations without payment of duty. It may be managed by the state or by private enterprise. In the latter case a customs bond must be posted with the government. This system is widely used in developed countries throughout the world. Upon entry of goods into the warehouse, the importer and warehouse proprietor incur liability under a bond. This liability is generally cancelled when the goods are: *exported; or deemed exported; *withdrawn for supplies to a vessel or aircraft in international traffic; *destroyed under Customs supervision; or *withdrawn for consumption domestically after payment of duty. While the goods are in the bonded warehouse, they may, under supervision by the customs authority, be manipulated by cleaning, sorting, repacking, or otherwise changing their condition by processes that do not amount to manufacturing. Af ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Good (economics)
In economics, goods are items that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying Product (business), product. A common distinction is made between goods which are transferable, and Service (economics), services, which are not transferable. A good is an "economic good" if it is useful to people but scarcity, scarce in relation to its demand so that human effort is required to obtain it.Samuelson, P. Anthony., Samuelson, W. (1980). Economics. 11th ed. / New York: McGraw-Hill. In contrast, free goods, such as air, are naturally in abundant supply and need no conscious effort to obtain them. Private goods are things owned by people, such as Television, televisions, living room furniture, wallets, cellular telephones, almost anything owned or used on a daily basis that is not food-related. A consumer good or "final good" is any item that is ultimately consumed, rather than used in the production of another good. For example, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Duty (economics)
In economics, a duty is a target-specific form of tax levied by a state or other political entity. It is often associated with customs, in which context they are also known as tariffs or dues. The term is often used to describe a tax on certain items purchased abroad. A duty is levied on specific commodities, financial transactions, estates, etc. rather than being a direct imposition on individuals or corporations such income or property taxes. Examples include customs duty, excise duty, stamp duty, estate duty, and gift duty. Customs duty A customs duty or due is the indirect tax levied on the import or export of goods in international trade. In economics a duty is also a kind of consumption tax. A duty levied on goods being imported is referred to as an 'import duty', and one levied on exports an 'export duty'. Estate duty An estate duty (in the U.S. inheritance tax) is a tax levied on the estate of a deceased person in many jurisdictions or on the inheritance of a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free-trade Zone
A free-trade zone (FTZ) is a class of special economic zone. It is a geographic area where goods may be imported, stored, handled, manufactured, or reconfigured and re- exported under specific customs regulation and generally not subject to customs duty. Free trade zones are generally organized around major seaports, international airports, and national frontiers—areas with many geographic advantages for trade. Definition The World Bank defines free trade zones as "small, fenced-in, duty-free areas, offering warehousing, storage, and distribution facilities for trade, transshipment, and re-export operations". Free-trade zones can also be defined as labor-intensive manufacturing centers that involve the import of raw materials or components and the export of factory products, but this is a dated definition as more and more free-trade zones focus on service industries such as software, back-office operations, research, and financial services. Synonyms Free-trade zones are re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zhangjiagang
Zhangjiagang (), formerly Shazhou County (), is a county-level city under the administration of Suzhou, Jiangsu province, China and one of the many ports along the Yangtze river. With 1,246,762 inhabitants as of the 2010 census, the city is now part of Jiangyin-Zhangjiagang-Jingjiang built-up or metropolitan area with 3,526,260 inhabitants. Continued growth will encompass the Yangtze River Delta metropolitan region. It borders the prefecture-level cities of Taizhou and Nantong across the Yangtze River, as well as Wuxi to the west. Its total area is 986.53 square kilometers, including a land area of 791.05 kilometers. In the top 100 country-level city list in China, Zhangjiagang ranks the third in 2019, and 2020. Zhangjiagang is named a national civilized city in China in 2020, and this is the sixth time that the city achieves this honor. History Toponym Zhangjiagang is derived from a port in the city, while the port is named after a tributary, Zhangjia. All of them are wri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jiangsu
Jiangsu (; ; pinyin: Jiāngsū, Postal romanization, alternatively romanized as Kiangsu or Chiangsu) is an Eastern China, eastern coastal Provinces of the People's Republic of China, province of the China, People's Republic of China. It is one of the leading provinces in finance, education, technology, and tourism, with its capital in Nanjing. Jiangsu is the List of Chinese administrative divisions by area, third smallest, but the List of Chinese administrative divisions by population, fifth most populous and the List of Chinese administrative divisions by population density, most densely populated of the 23 provinces of the People's Republic of China. Jiangsu has the highest GDP per capita of Chinese provinces and second-highest GDP of Chinese provinces, after Guangdong. Jiangsu borders Shandong in the north, Anhui to the west, and Zhejiang and Shanghai to the south. Jiangsu has a coastline of over along the Yellow Sea, and the Yangtze River passes through the southern part ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yantian
Yantian District () is one of the nine districts of the city of Shenzhen, Guangdong, China. It is adjacent to Shenzhen River and Hong Kong to the south, and is surrounded by Luohu, Longgang and Pingshan districts of Shenzhen. Before 1960s, the northern part of the district belonged to Huiyang County (now Huiyang District, Huizhou). The famous Huizhou Uprising launched by Dr. Sun Yat-sen started in the northern part of the district during 1900. The failure of the revolution had inspired Dr. Sun to revolt against the Qing dynasty, which soon ended in 1912 after the Wuchang Uprising. Due to the proximity to Bao'an County, Northern Yantian merged into the new County in 1960s. In 1978, after the establishment of Shenzhen Special Economic Zone(SEZ), Yantian (as a part of Luohu District), together with several other districts in Bao'an County, formed the new special economic district. In March 1998, Yantian separated from Luohu District after the construction of Yantian Port Area of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guangdong
Guangdong (, ), alternatively romanized as Canton or Kwangtung, is a coastal province in South China on the north shore of the South China Sea. The capital of the province is Guangzhou. With a population of 126.01 million (as of 2020) across a total area of about , Guangdong is the most populous province of China and the 15th-largest by area as well as the second-most populous country subdivision in the world (after Uttar Pradesh in India). Its economy is larger than that of any other province in the nation and the fifth largest sub-national economy in the world with a GDP (nominal) of 1.95 trillion USD (12.4 trillion CNY) in 2021. The Pearl River Delta Economic Zone, a Chinese megalopolis, is a core for high technology, manufacturing and foreign trade. Located in this zone are two of the four top Chinese cities and the top two Chinese prefecture-level cities by GDP; Guangzhou, the capital of the province, and Shenzhen, the first special economic zone in the count ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Entrepôt
An ''entrepôt'' (; ) or transshipment port is a port, city, or trading post where merchandise may be imported, stored, or traded, usually to be exported again. Such cities often sprang up and such ports and trading posts often developed into commercial cities due to the growth and expansion of long-distance trade. These places played a critical role in trade during the days of wind-powered shipping. In modern times customs areas have largely made entrepôts obsolete, but the term is still used to refer to duty-free ports with a high volume of re-export trade. ''Entrepôt'' also means 'warehouse' in modern French, and is derived from the Latin roots 'between' + 'position', literally 'that which is placed between.' Entrepôts had an important role in the early modern period, when mercantile shipping flourished between Europe and its colonial empires in the Americas and Asia. For example, the spice trade to Europe, which necessitated long trade routes, led to a much higher m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Economic Zone
Free economic zones (FEZ), free economic territories (FETs) or free zones (FZ) are a class of special economic zone (SEZ) designated by the trade and commerce administrations of various countries. The term is used to designate areas in which companies are taxed very lightly or not at all to encourage economic activity. The taxation rules and duties are determined by each country. The World Trade Organization (WTO) Agreement on Subsidies and Countervailing Measures (SCM) has content on the conditions and benefits of free zones. Some special economic zones are called free ports. Sometimes they have historically been endowed with favorable customs regulations, such as the free port of Trieste. As the United Kingdom was proposing the creation of ten free ports after leaving the European Union in early 2020, the EU was clamping down on 82 free zones after finding that their special status had aided the financing of terrorism, money laundering and organised crime. Definition The de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free-trade Zone
A free-trade zone (FTZ) is a class of special economic zone. It is a geographic area where goods may be imported, stored, handled, manufactured, or reconfigured and re- exported under specific customs regulation and generally not subject to customs duty. Free trade zones are generally organized around major seaports, international airports, and national frontiers—areas with many geographic advantages for trade. Definition The World Bank defines free trade zones as "small, fenced-in, duty-free areas, offering warehousing, storage, and distribution facilities for trade, transshipment, and re-export operations". Free-trade zones can also be defined as labor-intensive manufacturing centers that involve the import of raw materials or components and the export of factory products, but this is a dated definition as more and more free-trade zones focus on service industries such as software, back-office operations, research, and financial services. Synonyms Free-trade zones are re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
