Trade Zone Between China and DPRK to Open in October
Expected to open in October, a border trade zone between China and the Democratic People’s Republic of Korea in Northeast China’s Liaoning Province is finally been approved. According to the city’s foreign trade bureau, the Guomenwan border trade zone has an area of 40,000 square meters of land in the border city of Dandong.
All residents that are living within 20 kilometers of the border can and are allowed to exchange commodities with the residents of the Democratic People’s Republic of Korea. A day’s purchases of fewer than 8,000 yuan will be considered duty free.
Dandong is considered to be the key hub for the trade, tourism and investment industry between China and the Democratic People’s Republic of Korea. And around 600 border trade enterprises in the city are already in business and are trading with several Democratic People’s Republic of Korea accounts or around 40 percent of the city’s total trade turnover.