Zone demonstrates innovation capabilities

WND constantly improves its service and optimizes the approval process for enterprises. Provided to China Daily

Wuxi National High-tech District has vowed to improve the level of opening-up and expand the development space.

The comprehensive bonded zone of WND reported a total import and export value of $19.06 billion in the first ten months of 2018, an increase of 37.4 percent year-on-year. This is due to the high-level opening-up, an official said.

Through the reform of non-customs-declaration cargo management, the cargo enters and leaves the zone faster, which benefits enterprises. The scope of domestic goods entering and leaving the zone has been expanded and the speed has been increased. Now it can pass through in half a day, which saves time and reduces the cost of logistics, officials from WND's comprehensive bonded zone said.

Since 2018, WND has reformed non-customs declaration goods management and promoted the classification and supervision of warehouse goods according to their status, which optimizes the business environment.

Meanwhile, WND has seen robust development in foreign investment, with $1.3 billion registered from January to November 2018, ranking top in Jiangsu province. The advanced manufacturing industry accounted for 67 percent of the total foreign investment.

WND has attached more importance to the quality of foreign investment. A number of key projects such as LG Group's automotive battery project, a smart manufacturing industrial park of Japan Murata Manufacturing Co and SK hynix's M8 lab, each worth over 5 billion yuan ($738.86 million), have settled in this area.

WND also provides services to companies, helping them go through relevant formalities.