Hohhot Railway Foreign Economic Group Baotou Branch was officially established on May 8 in Jiuyuan (International) Logistics Park in Baotou city -- located in North China’s Inner Mongolia autonomous region -- according to a report in the Baotou Evening News.
As the main body of operation of the Baotou Bonded Logistics Center (B Type), the company's operations will fully kick start the various operations of the bonded logistics center, marking the center’s move into a substantial operational stage.
The company is currently working on the bonded business processes and regulatory policies with Baotou Customs. A multimodal transport center will be officially opened in the near future.
Officials said the operations (launch) ceremony will be held in the middle or late May.
They said the bonded logistics center can not only solve the problems of export tax rebates and imported bonded goods for import and export enterprises, but also effectively attract investment from cross-border enterprises.
It can also promote Baotou’s export processing, international trade and other industrial agglomeration, which will be of great significance to promoting the development of Baotou’s export-oriented economy.
The Baotou Bonded Logistics Center (B Type) covers a total area of 0.128 square kilometers, with facilities including a multimodal transport center, service area, inspection area, yard supervision area and bonded storage area.
Officials said when it becomes operational, it will support the six functions of port customs clearance and export tax rebates, bonded warehousing services, international procurement and distribution, re-export trade and international transfers, distribution process services and integrated port logistics services.