Core Insights - The State Council has approved the expansion of the Hangzhou Comprehensive Bonded Zone, which will transition Hangzhou's air economy from an "airport hub" to a "port economy" comprehensive platform [1][2] - The Hangzhou Comprehensive Bonded Zone, established in 2000 and upgraded in 2018, has achieved a historic best performance ranking sixth nationally and first in the province in the 2024 national evaluation [1] - The newly approved area will enhance international competitiveness and regional influence by leveraging the airport hub for the development of the air port economy [1][2] Summary by Sections Expansion Details - The expansion includes two blocks, with the new block located in the air economic demonstration zone, covering an area of 0.40 square kilometers [1] - Infrastructure and regulatory facilities are being developed, aiming for completion and acceptance by the end of the year [1] New Block Functions - The new block consists of a port operation area and a bonded function area, which will support customs inspection, bonded logistics, processing, and research and development [2] - The expansion addresses the functional shortcomings around Hangzhou Xiaoshan International Airport and is a key driver for high-level opening-up and enhancing the outward-oriented economy [2] Project Developments - Several high-value projects are being established, including a 510 million yuan bonded R&D manufacturing project by Xiu Zheng Pharmaceutical and a safety testing platform for lithium batteries and power semiconductors [2] - The new block aims to achieve acceptance targets and expand "bonded+" business models, focusing on cross-border e-commerce and innovative institutional integration [2]

Group 1 - The Zhuhai Free Trade Zone is located in the southern part of Zhuhai city, adjacent to the Wanzai Port and facing Macau, established in November 1996 and operational since 1999, being the only free trade zone on the west bank of the Pearl River Estuary [3] - The zone consists of customs special supervision areas and non-customs special supervision areas, offering preferential policies in customs supervision, foreign exchange management, and taxation compared to non-free trade zones [4] - The non-customs special supervision area focuses on high-end commercial service industries, with plans for the Zhuhai Free Trade Zone's exit already in place [5] Group 2 - As of October 12, 2024, the Zhuhai Municipal Bureau of Commerce's third-quarter progress report indicates a specific task to strengthen the planning for the transformation of the Zhuhai-Macau Cross-Border Industrial Zone and to continue optimizing the integration of customs special supervision zones like the Zhuhai Free Trade Zone [5] - The goal for the transformation of the free trade zone is to complete the approval process for its exit, which will enhance the utilization of regional resources and promote the development of surrounding commercial services [5]