Construction of a bonded cultural free trade zone near the Beijing Capital International Airport in the city’s northeast Shunyi district began early Sunday, according to local media.
The project will be funded by the Beijing Tianzhu Free Trade Zone and Beijing Gehua Cultural Development Group and will include a 510,000-square-meter Beijing Free Port of Culture subzone to the Beijing Tianzhu FTZ, specializing in cultural products.
While addressing the groundbreaking ceremony Wang Jianqi, chairman of Gehua, said the subzone will consist of three areas: the International Exhibition and Trade Center for Cultural Products; the International Cluster for Cultural Trading Enterprises; and the International Cultural Warehousing and Logistics Center.
The site will be partially finished in 2013 and fully built out by 2015. It’s expected to have annual turnover of 50 billion yuan ($7.92 billion), Wang said.
Beijing will get bonded cultural FTZ
