Guiyang FTZ's grain bonded processing project starts operation and will contribute to local economic growth. [Photo/ddcpc website]
A bonded grain processing facility in the Guiyang Free Trade Zone – in Guiyang, capital of Southwest China's Guizhou province – recently started operating, reportedly becoming the largest one of its kind in the region.
The facility was built by Guizhou Forryed Technology Group, a feed processing and pig breeding giant in Guizhou, at a total cost of 700 million yuan ($108.35 million). It has 15,000 square meters of workshops and 15 vertical silos.
The facility is also the only one in Guizhou accredited to handle foreign grain, as well as having a complete bonded logistics system, bonded processing system and marketing system.
When ramped up to full capacity, it will handle $500 million of imports annually, contribute 400 million yuan per annum in taxes, employ 100 people and influence the development of logistics, warehousing, catering and supermarkets in neighboring areas.
The operation of the facility will contribute to Guizhou's construction of the New International Land-Sea Trade Corridor and help Guizhou build a "dual circulation" pattern – China's development strategy, in which the domestic economy plays the lead role, supported by international trade.
Through the complex, the Guiyang FTZ will import corn and wheat and other crops. It will also establish industry supply chains and create information databases for Guizhou's feed processing trade and breeding enterprises, relying on logistics channels to Qinzhou Port and Fangchenggang city in South China's Guangxi Zhuang autonomous region.
Plans are for the Guiyang FTZ to additionally establish a provincial grain industry alliance and operate in the processing and trade businesses.