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A truck enters the Shaoxing Comprehensive Bonded Zone. [Photo/WeChat account: sxfabu]

A ceremony marking the third anniversary of the establishment of the Shaoxing Comprehensive Bonded Zone, along with the commencement of its Phase II project, was held on Sept 10.

Agreements for eight key projects were signed on the spot, and twelve financial institutions pledged their support for credit concentration in the Shaoxing Comprehensive Bonded Zone.

Since its establishment in September 2020, the Shaoxing Comprehensive Bonded Zone has experienced rapid growth in imports and exports. It has leveraged foreign investment, and a cross-border e-commerce ecosystem is taking shape.

From January to July, the Shaoxing Comprehensive Bonded Zone ascended to the top 100 among comprehensive bonded zones nationwide, rising from an initial ranking of 150th to 90th place.

The Phase II project of the Comprehensive Bonded Zone encompasses an estimated total investment of approximately 12.5 billion yuan ($1.72 billion). This expansion signifies continued growth and development in the region, further solidifying its position as a hub for international trade and economic activity.