SW China's Tibet approved to build first comprehensive bonded area

The Lhasa Comprehensive Bonded Area was approved by the State Council, China's cabinet in late April, according to the Management Committee of Lhasa Economic and Technological Development Zone on May 9.

The comprehensive bonded area will mainly support bonded processing, bonded services and bonded logistics enterprises, as well as foreign-invested and foreign trade enterprises targeting South Asian countries such as Nepal and India.

With 0.84 square kilometers of the customs supervision area, the comprehensive bonded area is located in section C of the Lhasa Economic and Technological Development Zone in Tibet. It is close to the Lhasa freight hub of the Qinghai-Tibet Railway and 40 kilometers away from the Lhasa Kongga International Airport.

The Lhasa Comprehensive Bonded Area started the application for establishment to the State Council in June 2016. It is an important carrier for Tibet to integrate itself into the Belt and Road Initiative (BRI) and build the Bangladesh-China-India-Myanmar Economic Corridor and an important land passage for China's opening-up toward South Asia.