China approves fourth export zone in southern island

There will be a special export zone in the southern island province of Hainan. The Yangpu Bonded Port Area will enjoy tax breaks and other preferential policies similar to three zones in Shanghai, Tianjin and Dalian according to Shanghai Securities News.

Vice province governor Jiang Sixian said at a press conference that the port is expected to become a logistics hub as well as an export center for petrochemicals.

He said, ‘It’s conducive to faster economic growth of Hainan and the whole region.’

The Yangpu Port will be built up in three phases with the first phase already started and will eventually cover an area of 9.2 square kilometers with an annual throughput of 70 million tonnes

The first phase of construction had already started, said Jiang Sixian.

RMB50 billion will be spent on construction and the area will host industries with a total output value of RMB100 billion, generating RMB12 billion in taxes annually by 2012.

Yangpu bonded harbor area borders the ASEAN trading zone, is close to key international shipping routes, and has a deep-water shoreline of more than 50 km where 80 berths with dead-weight-tonnages of up to 300,000 tons can be built.
It will be the closest industrial base to the oil and gas resources in the South China Sea.

Our illustration shows shows a 300,000 ton-class oil tanker anchored at Yangpu Port in south China’s Hainan Province.