SANYA, Sept. 29. /TASS/. The bonded zone located in Yangpu Port (Hainan Province, South China) ranked 27th in China's national ranking for 2021. This was reported by the Sansha Weishi TV channel.

According to the channel, Yangpu Bonded Port Area received its first A-rating. Yangpu was ranked 88th in the 2020 ranking.

This ranking is compiled annually by China's General Administration of Customs. A total of 137 bond zones in China were evaluated.

In addition, Yangpu ranked 19th among 79 special zones with special customs treatment in the eastern part of the country, up 43 places from the port's performance in 2020.

A bonded zone is a specifically designated area with a special tax and customs regime. It is designed for importing goods into the country on preferential terms without paying taxes and duties and subsequent distribution of products in the domestic market or further re-export. The customs clearance of the products only occurs after the appearance of the buyer, which makes export-import operations much cheaper and quicker.

Yangpu Port

Yangpu is located in Danzhou (northwest of Hainan), administratively directly subordinate to the provincial authorities. It accounts for about 45% of the island's foreign trade turnover and about 20% of the foreign investment attracted. Cargo is shipped on 40 routes, 19 of which are to other countries and regions.

In 2021, the port's total container cargo turnover was 1.3 million TEUs, 29.33% more than in 2020. According to the authorities' plans, by 2025, Yangpu should become a regional transport hub: by that time, its cargo turnover should reach 5 million containers per year, and the number of domestic and international routes will exceed 80.