What are free trade zones in China?
They are areas designated for export and international trade. They generally include industrial parks, bonded warehouses and export processing zones. Furthermore, the founding of Free Trade Zones is normally based on free trade agreements signed between China and other countries, which renders goods and services traded within the zone eligible for preferential, if not zero-rated, custom duties. Trade quotas are generally removed within Free Trade Zones.
Companies in Free Trade Zones enjoy tax refunds on value-added taxes for either exports or imports and easier visa application for foreign individuals working therein.
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