A rendering of the front gate of the Taizhou Comprehensive Bonded Zone in Taizhou, East China's Zhejiang province.

 [Photo/WeChat account: tzfb001]

The State Council, China's cabinet, recently approved the establishment of the Taizhou Comprehensive Bonded Zone in Taizhou, East China's Zhejiang province.

The zone is the second national platform established in the city this year, following the Taizhou Bay Economic and Technological Development Zone, a national economic development zone.

Its establishment is expected to give local enterprises more preferential taxation policies, injecting new vitality into the city's private sector.

Located in the Taizhou Bay Economic and Technological Development Zone, the Taizhou Comprehensive Bonded Zone covers a total area of 1.77 square kilometers and comprises five sections dedicated to port operations, bonded processing, bonded logistics, bonded services and comprehensive services.

It will primarily focus on the development of sectors such as intelligent manufacturing, new materials and high-end biomedicine.