The entrance to Shenzhen Pingshan Comprehensive Bonded Zone. File photo

The foreign trade value of Shenzhen Pingshan Comprehensive Bonded Zone was 41.29 billion yuan in the first three quarters of this year, a year-on-year increase of 16%, according to Shenzhen Customs.

For ABUS Hardware (Shenzhen) Co. Ltd., a producer of safety padlocks and smart locks favored by international consumers and sold across the EU, Americas, and Africa, the Pingshan Comprehensive Bonded Zone is an optimal choice for its import needs. Liu Weijun, the company’s customs affairs manager, mentioned that raw materials and production equipment need to be imported and the Pingshan bonded zone provides certain tax exemptions, which is a significant advantage.

The total foreign trade value of Shenzhen’s three comprehensive bonded areas exceeded 396 billion yuan in the first three quarters of this year, a year-on-year increase of 33.8%, and accounted for 11.7% of the city’s total. The Qianhai Comprehensive Bonded Area posted the most significant growth, with a year-on-year increase of over 48%, reaching a foreign trade value of 264.2 billion yuan. The Yantian Comprehensive Bonded Area contributed 90.6 billion yuan, with an increase of 6.98%.