Beijing Zhongguancun Comprehensive Bonded Zone Obtains Official Approval for Establishment
Beijing Zhongguancun Comprehensive Bonded Zone (hereinafter referred to as the "Zone"), the first of its kind in China to feature research, development and innovation, has received official approval for the establishment from the State Council of the People's Republic of China.
First, the Zone highlights innovation in business format access. With the bonded services for research and development as its core, the Zone aims to introduce new business formats powered by bonded services, such as high-end equipment testing and maintenance within the Zone. The Zone is also utilizing preferential policies related to bonded services, tax exemption, and certificate exemption to attract a diverse range of entities, including national industrial innovation centers, national centers of technology innovation, new-type research and development institutions, high-tech enterprises, and innovation incubation platforms, to settle in it for further advancement.
Second, the Zone also underlines the roles of innovative policies in promoting development. It is poised to embrace a series of advantageous policies akin to those applied in the China (Beijing) Pilot Free Trade Zone, the Integrated National Demonstration Zone for Opening up the Services Sector, and Zhongguancun Science Park. Based on its existing policies, the Zone draws inspiration from advanced science parks both in China and other countries for policy innovation while conducting stress tests for institutional innovation in high-end, precision, and sophisticated industries. Furthermore, the Zone has been exploring new practices for innovation in policies relevant to, for instance, the bonded services for the entire industry chain for integrated circuits, which prioritizes research, development and design sections.
Third, the Zone gives prominence to the innovation of regulation modes. It is set to make the most of its advantages in developing technologies including such as blockchain, AI, Internet of Things, and digital twin, to explore and integrate cutting-edge technologies such as AI-based IoT technologies with situational awareness, computer vision technologies, blockchain, and big data management. By doing so, the Zone will pave the way for establishing innovative supervision mechanisms and enabling unobstructed and rapid customs clearance modes for the research and development sector powered by bonded services.
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