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Shaoxing Comprehensive Bonded Zone. [Photo/Tide News]

Shaoxing Comprehensive Bonded Zone has secured a major investment from Hong Kong-based Green Energy International Limited, a high-tech company specializing in home energy storage systems. The project marks the zone's first foray into bonded processing and repair, with a total investment of $100 million.

Founded in 2013, Green Energy International chose Shaoxing Comprehensive Bonded Zone for its strategic location, industry support, and favorable investment environment. The company plans to establish bonded processing and assembly for home energy storage devices, along with a bonded repair service for terminal electronic products.

Bonded repair, also known as "global repair," allows companies to import faulty goods for repair and re-export them, providing faster approvals, streamlined customs procedures, and reduced operational costs. This model also enhances their participation in global supply chains.

In the first half of 2024, Shaoxing Comprehensive Bonded Zone's import and export value reached 13.54 billion yuan (1.91 billion), a threefold increase, placing it 56th among national boned zones and 5th in Zhejiang, both record highs.