China's first cultural bonded zone to settle in Beijing

Edited and translated by People's Daily Online

Construction on the Beijing International Cultural Trade Service Center, which will be the first cultural bonded zone in China, began in the Beijing Tianzhu Free Trade Zone on March 11.

The cultural bonded zone will reduce the costs for domestic cultural enterprises in expanding abroad, giving them a greater advantage and making their products more competitive in global markets.

Based on the preferential policies of the Tianzhu Free Trade Zone, the cultural bonded zone will provide bonded services to domestic and foreign cultural production, transmission, and trade organizations.

The cultural bonded zone will consist of three functional 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 bonded zone will cost 5 billion yuan to build, and cover a total area of more than 173,000 square meters, with a floor space of 500,000 square meters. It is expected to be completed and start operating in 2015.