Bonded warehouse in Jinmen helps importers widen margins
Xiamen postal service has announced plans to build a bonded warehouse on the nearby Jinmen Island to facilitate cross-border e-commerce business.
A suitable site has been chosen for the warehouse and construction work on the 10,000-square-meter facility has begun. The facility is scheduled to become operational in 2016.
Cross-border e-commerce has grown in Xiamen in recent years. In the first half of 2015, cross-border B2B (wholesale) trade in Xiamen accounted for 47 billion yuan ($7.59 billion).
Xiamen has yet to become a pilot city permitted to build bonded warehouses for e-commerce purposes. To this end, a bonded warehouse was established in Jinmen.
Why Xiamen
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Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.