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Liuzhou’s import and export reached a new high
 
Date:2015-12-02 By:QiuZhen Luo; XiaoJie Qin Source:Liuzhou Daily

Liuzhou achieved a new rejoicing during the development of foreign trade recently. Liuzhou Iron and Steel Bonded Warehouse, the first public bonded warehouse, was officially unveiled and started to operate in the fifth coal yard of coking plant, marking Liuzhou’s import and export reached a new high.

Thanks to the functions like providing offshore purchase bonded warehousing service, storing transit goods, simple processing and tax deferral, the public bonded warehouse has great significance for improving the fund utilization rate, shortening production cycles, reducing trade risk, saving relevant costs, improving management environment and enhancing competitiveness. According to the internationally bonded system requirements, goods stored in the bonded warehouse can temporarily hold over duties and exempt from the acquisition of import licenses or other import documents in the customs permitted storage period. This will not only provide convenience for enterprises to store products, but also avoid capital overstocking due to the storage of goods, thus saving more floating capital to develop more business and realize high-speed operation.

Liuzhou Iron and Steel is a large iron and steel joint enterprise, focusing on the production of iron and steel and coordinately developing other business. Its annual output of steel is over ton million tons, annual purchase of bulk raw materials such as imported coal and ironstone is over 20 million tons and the import volume is about 1.2 billion dollars. Besides, its trade, logistics and other business also have great potential. It plans to further expand the total construction area of bonded warehouse in 2016 and the bonded goods will completely cover purchased imported bulk raw materials and fuels and imported equipment. At that time, the flowing bonded goods can be over 20 million tons, which means that over 6 million yuan can be saved, according to the principle of holding over taxes for a month.

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