Guangzhou's free trade zone to be China's biggest

The establishment of a free trade zone in Guangzhou, capital of Guangdong province, will help boost the development of bonded warehouses in the city, an industrial report showed.

"Inquiries for renting bonded warehouses have increased a lot since the free trade zone in Nansha district was approved," said Zhang Ning, head of Industrial with Jones Lang LaSalle (South China).

As one of the components of the Guangdong Free Trade Zone, approved by the State Council at the end of last year, the Nansha zone covers 60 square kilometers, becoming the largest among all China's free trade zones.

According to a Jones Lang LaSalle report, the renting price of bonded warehouses increased 8.9 percent year-on-year in 2014.

"The price will continue to rise in the years ahead as establishment of the free trade zone will boost demand for bonded warehouses in the district," said Zhang, adding that Nansha currently has some 80,000 square meters of storage space.