(Ⅰ) The Concept
According to article 100 of Customs Law, bonded goods refers to the goods which enter the territory without duty payment procedures upon approval of Customs authorities and are re-transported out of the territory again after storage, processing or assemble in the territory.

(Ⅱ) The Characteristics
1. Bonded goods are applicable for the re-transported goods after storage, processing and assemble in the territory. Therefore, the temporary import aimed to re-export after storage, processing and assemble is the condition on which the bond comes into being.

2. Customs duty is one of the cores in Customs clearance management. The most important factor in customs duty collection is if the goods are put into the economic circulation within the territory. In this sense, delayed duty-paying has been the outstanding characteristics that distinguish the goods of temporary import for storage, processing and assembly from the other goods of Customs clearance (excluding temporarily-permitted import & export goods).

3. Since the bonded goods is conditioned by temporary import for storage, processing and assembly, then during this period, to maintain the original re-export managerial goal and not to put the goods into use or on sale within the territory will be the foundation of the existence of the bonded form. Once the original managerial goal is changed, the foundation of bonded form naturally will not exist.

4. In order to supervise and control the goods for storage, processing and assembly within the territory to reach the managerial goal of re-export, and to ensure the effective implementation of the import and export policies and measures on customs duty, and guaranteed by the strict and secret guarantee and the control mechanism, the Customs shall protect the “temporarily-delayed duty-paying” in a practical way.

(Ⅲ) The Control of bonded goods
The control over the bonded storage and bonded processing goods by the Customs is targeted to the re-export of the bonded goods after storage and processing according to the relevant regulations of the Customs on the bonded goods. The import duty-paying procedures need to be done again for those goods that will not be re-exported. The practical procedure of the control over the bonded goods by the Customs consists of five stages according to the priority.

1. Put on Records of the Contract of Bonded Goods (Bonded Storage Goods Dismissed)
This part is done in the management of early stage. The main task of the Customs is to check and verify the concluded contract of goods and the credit conditions of the operational unit; confirm to the nature of the commerce, finalize the risk level of the enterprise and the goods; issue Registration Manual after verification.

2. The Control of Import Goods
The main task of the Customs in this part is to accept the import declaration of the bonded storage goods and the material required for bonded processing, and is in charge of the clearance after checkup and sealing. The person in charge is allowed to take the goods away from the control area and carry to bonded warehouses or bonded processing enterprises.

3. Checkup and Verification of the Conditions of Storage and Processing of Goods
The main task of this part is to verify the report forms submitted by bonded business owner on a regular or irregular basis. Check and verify data and goods at the enterprise depending on the actual conditions to monitor the lawful, common storage and processing of bonded goods within the territory.

4. Handling the Customs Procedures According to the Actual Direction of the Goods
The main task in this part is to go through the corresponding Customs formalities respectively according to the directions of the bonded goods, e.g. storage, processing and re-carrying, returning-on-sale export, domestic sales commodities originally produced for exports, or settling for re-bond, etc.

5. Conclusion and Cancellation after Verification
The main task of the Customs in this part is to check and verify the relative data of import for storage, taking out from the warehouse and where the bonded goods actually go; to verify and check the proportion of import and export of the bonded processing goods and the consumption data; make control and cancel after verification according to the balance of the import and export of the goods.

In terms of the newly-built bonded warehouse, bonded factory, bonded group, bonded material market, bonded area, etc, register procedures must be gone through before operation to gain the qualification for bonded management.