What is the free trade port area?
It refers to special customs supervision areas approved by the State Council and set up within special connected areas of opening ports, and having port, logistics and processing functions.
What’s the function of the free trade port area?
Its specific functions include 9 items, such as storage and logistics, foreign trade, international purchase, sales and distribution, international transit, test and after sales maintenance, commodity exhibition, R&D, processing, manufacturing and port terminal.
What preferential policy advantages are enjoyed by the free trade port area?
The free trade port area enjoys related tax policies and foreign exchange management policies of bonded areas, export processing zones and bonded logistics parks. Main specific items: foreign cargos are bonded in the port; the cargo is subject to related customs clearance provisions for leaving from the port and entering into domestic sales channels. The free trade port area enjoys overlapped tax policies and foreign exchange management policies in bonded areas and export processing zones, and has dominant regional, functional and policy advantages.
How many free trade port areas in the whole country?
There were 14 free trade port areas in the whole country by 2013, including Shanghai Yangshan Free Trade Port Area, Tianjin Dongjiang Free Trade Port Area, Chongqing Lianglu Cuntan Free Trade Port Area, Liaoning Dalian Dayaowan Free Trade Port Area, Hainan Yangpu Free Trade Port Area, Zhejiang Ningbo Meishan Free Trade Port Area, Guangxi Qinzhou Free Trade Port Area, Fujian Xiamen Haicang Free Trade Port Area, Shandong Qingdao Qianwan Free Trade Port Area, Guangdong Shenzhen Qianhaiwan Free Trade Port Area, Guangdong Guangzhou Nansha Free Trade Port Area, Jiangsu Zhangjiagang Free Trade Port Area, Shandong Yantai Free Trade Port Area and Fujian Fuzhou Free Trade Port Area.
What similarities and differences between bonded area and free trade port area?
Similarity: both have the special customs supervision zone and bonded logistics function.
Difference: the bonded area came out from early 1990s, while the free trade port area originated from the 23rd Century. The free trade port area has larger and powerful functions than the bonded area. To be specifically, the free trade port area has the function of tax return, bonded exhibition, test and maintenance, while the bonded area does not have.
What is the offshore financial center?
The offshore finance refers to financing activities by financial institutes, which are set in a country, but not related to the financial system of that country and not supervised by financial laws of that country. The offshore financial center has three modes, inside-outside separation mode, inside-outside blending mode and tax haven mode.
Offshore financial businesses are not separated from domestic financial businesses and the capital enjoys high mobility in the inside-outside blending offshore financial center, which is represented by London and Hong Kong. Offshore financial businesses are separated from domestic financial businesses in the inside-outside separated offshore financial center and the regulatory authority offers tax preference for non resident transactions, but non resident transactions shall be strictly separated from domestic accounts. The separation offshore financial center is represented by Singapore, New York, Bahrain, Tokyo and Bangkok.
Tax haven offshore financial center refers to general offshore financial centers in our understanding, where many financial institutes and companies are registered. They are normally called as offshore companies or international business companies, but these institutes may not set up entities in the financial center and their actual businesses are ongoing in their country. They may only execute domestic and foreign trade through the account book of the registered institute to enjoy tax preference in those areas. This type of the offshore financial center is represented by BVI in Caribbean, Bahamas, Cayman, Bermuda, South Pacific Nauru, Western Samoa, Channel Islands on the English Channel and Cyprus Islands on the Mediterranean.
What is the cross border e-commerce?
The cross border e-commerce refers to a type of international business activities, in which the trade bodies from different countries conclude transactions and settle payments through the e-commerce platform, and deliver commodities and finish transactions by the cross border logistics.
What is the export processing industry?
It’s also called as export trade type industry and refers to the industry relying on import materials and international product sales.
It’s mainly characterized by import materials and international product markets, connections between product processing and manufacturing and export trade, interdependency and mutual promotion. It refers to the gaining of added labor values after import of raw materials and semi finished products, processing and assembly, and export of finished products.