A fully automated container terminal at the Port of Qingdao in Qingdao, East China's Shandong province, on June 8, 2018. [Photo/IC]

According to Qingdao customs, recently the State Council approved the establishment of a comprehensive bonded zone in Jimo district, Qingdao.

This will be the third comprehensive bonded zone in the eastern coastal city.

Local authorities said the zone will work to develop bonded processing, bonded logistics, bonded services, and other businesses.

It will focus on general aviation, auto parts, cross-border e-commerce, and more with the goal of building an export-oriented key project cluster. It will also contribute to the development of the Shandong Peninsula Blue Economic Zone and promote the construction of the Belt and Road.

The zone will serve as a special customs supervision area with a high level of openness, an abundance of preferential policies, comprehensive functions, and simple administrative procedures.

It will also engage in international logistics, foreign trade, procurement, and distribution.

Shandong province currently has 11 special customs supervision areas, raking third among all provinces in the country. Four of the zones are located in Qingdao, more than any other city in Shandong province.

Over the years, special customs supervision areas in Shandong province have played an important role in expanding employment, promoting opening up, attracting foreign investment, and carrying out international industrial transfers.