A signing ceremony for the settlement of the Qingdao Port Commodity (Cotton) Trade Center in Xi’an Comprehensive Bonded Zone was held in Xi’an’s International Trade and Logistics Park (ITL) on Feb 18, itl.gov.cn reported.

With the policy advantages of a bonded zone, the commodity trade center will conduct its business in bonded warehousing, with bonded delivery and cross-border transactions, with raw cotton, grain, oil and natural rubber as its major trade products.

The commodity trade center will be set up in two phases. Under the first phase, trade halls and warehouses will be rented to operate the bonded warehousing business, while the objective of the second phrase is the construction of cotton and other goods delivery libraries, which will start in the middle of this year and is scheduled to go into operation in 2015.

Zheng Minghui, chairman of the board of the Qingdao Port Group, said that the trade center will provide more efficient, convenient and economical logistics distribution services for the enterprises based in Shaanxi province and its surrounding areas, and it will contribute to the construction of the Silk Road economic belt.

Han Song, vice-mayor of Xi’an and Party committee secretary of the ITL, expressed his gratitude to Qingdao Port for its support of the Chang’an international cargo trains’ operations last year. He said he hoped both sides could cooperate further.

Other officials attending the ceremony included Qiang Xiaoan, director of the ITL management committee, and Chen Songlin, deputy secretary of Xi’an’s municipal government.

Han Song (left), vice-mayor of Xi'an and Party committee secretary of the ITL, and Zheng Minghui, chairman of the board of the Qingdao Port Group, announce the settlement of Qingdao Port Commodity (Cotton) Trade Center in Xi'an Comprehensive Bonded Zone on Feb 18. [Photo/itl.gov.cn]

Zheng Minghui (middle), chairman of the board of the Qingdao Port Group, and his delegation visit the ITL. [Photo/itl.gov.cn]

Representatives of the Qingdao Port and Xi'an Comprehensive Bonded Zone sign cooperation contract at the ceremony on Feb 18. [Photo/itl.gov.cn]

Edited by Brian Salter