By Yuling Chen, EDITOR

According to the Chongqing Customs District of P.R.CHINA on March 22, a batch of bonded aircraft materials worth USD 6,800 of China Express Airlines successfully entered the Chongqing Lianglu-Cuntan Free Trade Port Area (hereinafter referred to as the CFTA).

Lianglu-Cuntan Free Trade Port Area (CFTA), Chongqing

The first batch of bonded aviation materials in Chongqing

On the second anniversary of the listing of China (Chongqing) Pilot Free Trade Zone, the enterprises there have new advantages. This is the first batch of bonded aviation materials in Chongqing, which marks the official launch of bonded and maintenance guarantee businesses of aviation materials in CFTA.

The maintenance guarantee of aircraft materials is a new-type of maintenance business in the current international civil aviation industry. After the signing of a maintenance guarantee contract between the domestic airline and overseas service provider of maintenance guarantees, the service provider will provide maintenance support services by means of repairing or exchanging aviation materials, while the customs will only levy taxes on the maintenance fees actually paid under the maintenance guarantee contract.

It can further shorten the maintenance cycle and reduce cost

“Based on the traditional supervision method, the circumstance in which aircraft maintenance is only available after the import of aviation materials affects the maintenance cycle of aircraft. However, the maintenance guarantee service providers can now first store the relevant aviation materials in the CFTA and use them when necessary, which can further shorten the maintenance cycle and reduce millions of pure maintenance cost every year for the enterprises.” Tao Aijun, Deputy Chief of the Recording Division of the Lianglu-Cuntan Customs, said.

“It is only the first step to promote the establishment of bonded and maintenance guarantee businesses of aviation materials. Next, we will continue to optimize and improve the regulatory model, further support the development of aircraft financial leasing and the bonded maintenance guarantee and leasing businesses of aviation materials in the CFTA, contribute to the development of the whole aviation industry chain in the CFTA, and promote the construction of China (Chongqing) Pilot Free Trade Zone and aviation hubs.” Chen Hua, Chief of the Lianglu-Cuntan Customs, said.

Source: Chongqing Daily

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