Ordos zone achieves historic high in foreign trade in 2023

A truck carrying goods passes customs clearance at the Ordos Comprehensive Bonded Zone. [Photo/Inner Mongolia News Network]

According to data released by the General Administration of Customs, the import and export value of the Ordos Comprehensive Bonded Zone in the city of Ordos in Inner Mongolia autonomous region reached 7.96 billion yuan ($1.09 billion) in 2023.

This marked a remarkable 55.8 percent year-on-year increase and constituted 48.5 percent of the city's total foreign trade volume. Specifically, the zone’s import value amounted to 2.19 billion yuan, while its export value surged to 5.77 billion yuan.

In recent years, the Ordos Comprehensive Bonded Zone has been dedicated to enhancing the level of opening-up to the outside world and advancing in comprehensive improvement.

In efforts to elevate the level of foreign trade, the zone introduced the Shenzhen electronic industry transfer project and Huayang Optoelectronics' thin-film production assembly line project, thereby establishing an electronic processing industry chain and transitioning from basic processing to high-end intelligent manufacturing.

Furthermore, the zone has been committed to establishing a new model of "comprehensive bonded zone + zero-carbon industry", which successfully launched the first zero-carbon industry bonded warehousing project in Inner Mongolia.

In driving industrial development, it has intensified the construction of basic supporting facilities and the establishment of electronic R&D base projects. This accelerated the construction of industrial carriers and further stimulated the development vitality of enterprises.

Moreover, breaking regional constraints, the zone has focused on building the cashmere industry chain, successfully launching the first Mongolian cashmere import bonded warehousing project and cashmere processing and product export project in the region.

In optimizing its business environment, the zone has established shared offices, public meeting rooms, and storage facilities for enterprises, thus providing convenient facilities and services.