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Chongqing Cuntan Harbor granted bonded port status

Published: 26 Nov 2008 01:49:51 PST

Nov. 26, 2008 (China Knowledge) - The State Council, China's cabinet, has given nod to grant the Cuntan Harbor of Chongqing Municipality the status as bonded port.

The port will be the first bonded port in inland China and will provide strong support for the economic growth of the city as well as the other parts of Southwest China, said the municipal government.

The bonded port area will consist of a bonded river port area of 6 sq km and another bonded airport area of 2.37 sq km, but no bonded railway area was included as originally planned.

The total investment of the bonded port is estimated to be RMB 9.89 billion, 65% of which will come from bank loans. The rate of return is expected to be 9.45%.

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