Nanjing Comprehensive Bonded Zone was approved by the State Council in Nanjing, capital of Jiangsu province, in September 2012. The zone was planned to cover 5 square kilometers with the Longtan area covering 3.8 sq km and the Jiangning area 1.2 sq km. The establishment of the zone was expected to facilitate foreign trade for local firms and ensure residents could buy cheaper imports.
The main industries in the zone are logistics distribution, exhibitions, testing and maintenance, financial services, cultural trade, entrepot trade, healthcare and high-end manufacturing.
More than 80 percent of preferential policies for the Shanghai Free Trade Zone are also adaptable to the Jiangning area, including the 24-hour clearance service and bonded exhibition and transaction. At present, customs clearance procedures are completed in about 40 minutes, and the procedures for exported goods are finished in about 20 minutes.
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