The Jinyi Comprehensive Free Trade Zone in Jinhua's Jindong district. [Photo/Jinhua Media Group]
A batch of African pecans imported by Jinhua Ganglong Food has completed inspection at the Jinyi Comprehensive Free Trade Zone in Jinhua, Zhejiang province, with the zero-tariff policy for African countries reducing costs by 70,000 yuan ($10,435.3).
Lu Zhi, the company's customs manager, said they are planning to increase African nut imports.
This pecan's journey symbolizes Jindong district's accelerated efforts to enhance African trade routes.
This year, Jindong has focused on the Jinyi Comprehensive Free Trade Zone to tackle trade challenges with Africa. By creating a service system focusing on policy clarification, precise guidance, customs facilitation, and warehousing support, the district ensures zero-tariff benefits reach businesses effectively.
The free trade zone's warehousing function enhances policy execution. Companies can align goods release with sales, paying taxes post-sale, reducing initial capital outlay. This synergy with zero-tariff policy bolsters African trade intentions, with more African goods using the zone as a distribution hub to enter national markets.
The policy's impact is visible in trade performance. Jindong district's African imports have reached 2.56 billion yuan so far this year, a 22.2-fold increase year-on-year, with average import costs down 5 percent.
