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Establishment of bonded zones proposed

(Xinhua)
Updated: 2007-03-09 17:04

China's three major development areas should be transformed into bonded zones to meet the new demands from the country's reform and opening up drive, said a political advisor on Friday.

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Considering the demand for promoting China's export and sharpening the country's competitive edge in international economic cooperation, it is very necessary to transform the three major development areas, namelyShanghai's Pudong New District,Tianjin's Binhai New Area and Shenzhen Special Economic Zone, into bonded zones at a proper time, said Li Youwei, a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC).

If transformed, the three areas located in the booming Yangtze River Delta, Bohai-rim region and Pearl River Delta will receive a major boost to continue leading the country in development as three economic engines, said Li when speaking at a plenary meeting of the CPPCC National Committee, China's top advisory body.

"The transformation will mark an important step to deepen the country's reform and opening-up drive," Li said.

China set up a batch of special economic zones since the 1980s, including Shenzhen, Zhuhai and Xiamen, which became the country's pioneers in the reform and opening-up drive and pilot fields for themarket economy.

As the country is entering a new stage of economic development, Li said, it is necessary to set up bonded zones in the three areas.

The annual session of the CPPCC National Committee opened inBeijingon March 3 and is scheduled to end on March 15.