OREANDA-NEWS. January 16, 2014. After completing the customs clearance, two lorries loaded with TISCO’s stainless steel coils eased into the entrance of Shanxi Wusu Comprehensive Bonded Zone (SWCBZ). This was the first business of SWCBZ, and also the first pot of gold that TISCO got from SWCBZ. The related leaders of Taiyuan Customs and Vice President of Shanxi Taigang Stainless Steel Co. Ltd. Chai Zhiyong witnessed the important moment.
 
SWCBZ was accepted by ten ministries and commissions under the State Council on Sept. 16, 2013. It is the most fully functional special economic zone in China with most preferential policies and most convenient customs clearance with the exception of Shanghai Free Trade Zone. The completion of the SWCBZ has important implications for reducing the operation costs of the export-oriented enterprises, improving the opening up of Shanxi Province and speeding up the construction of the Shanxi pilot region for comprehensive reforms, and indicates that Shanxi enters officially into the “comprehensive bonded” era.
 
TISCO actively competes in the global marketplace and its export trade volume grows unceasingly for years. Along with the construction of SWCBZ, TISCO established its TISCO Bonded Comprehensive Service Co. Ltd. by fully utilizing the advantages of the policies for the bonded zone. TISCO Bonded Comprehensive Service Co. Ltd. becomes the first qualified operator in SWCBZ on Oct. 30, 2013.
 
It is said that TISCO, by utilizing SWCBZ, not only gets more favorable policies for export and taxation, but also can reduce its logistic cost about 15%-18% per year, which has great significance for reducing the export cost and improving its market competitiveness.
 
Comprehensive bonded zone is the special Customs controlling zone set up in the inland region with the functions of Free Trade Port Area, which can do the businesses of international transit, distribution, procurement, re-export and export processing. Now the comprehensive bonded zones have set up in some provinces or municipalities, such as Beijing, Shanghai and Jiangsu. Along with development of its business, TISCO can also provide the services of international purchasing, sales commission, freight forwarding and warehousing distribution for other import and export enterprises at home and abroad and fully utilize the preferential policies of bonded equipment, tax refund on domestically procured raw material in the bonded zone to carry out bonded processing.