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Free Trade Zones
There are three free trade zones in Shenzhen. A free trade supervision system is launched. Foreign-invested foreign trade companies are allowed to build in the zone to carry out free trade storage and display business. Paying of in foreign exchange for exportation and payment of foreign exchange for importation is not implemented in the zone, where the devices for company use are free of customs.
In 2004, the free trade zones in Shenzhen achieved a gross output value of industry at 68.523 billion yuan, 25.12 percent higher year on year, a total of import and export value amounted to US$23.954 billion yuan, expanding 33.81 percent year on year and covering 16.3 percent of the city's total. Of that, the total export value was US$12.207 billion yuan, 26.39 percent higher year on year, covering 15.7 percent of Shenzhen's total. The gross output value of industry was 28.119 billion yuan while the total of import and export value hit US$9.858 billion within the operational areas of 2.43 skqm.
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