China on Monday announced a master plan for six new pilot free trade zones in a strategic move to press ahead with reform and opening up in the new era. The new pilot FTZs will be located in the six provincial regions of Shandong, Jiangsu, Guangxi, Hebei, Yunnan and Heilongjiang, according to the plan released by the State Council.
The accelerated launch of a new batch of pilot free trade zones shows China's determination to further open up and release the dividends of opening-up, insiders say.
The new zones and the Shanghai FTZ expansion will further optimize China's FTZ layout and better serve national strategy, according to insiders.
While opening up more sectors, China is committed to providing better services and environment for foreign investors and sharing with them more opportunities of China's development.
The China (Jiangsu) Free Trade Zone will cover 119.97 square kilometers in Nanjing, Suzhou and Lianyungang, including 39.55 square kilometers in Nanjing, 60.15 square kilometers in Suzhou, and 20.27 square kilometers in Lianyungang. Each of the three sub-zones has its own advantages and will also have its own strengths.
Nanjing Jiangbei New Area will focus on building an independent innovation pilot zone with international influence, a modern industrial demonstration zone and an important platform for opening up.
Suzhou Industrial Park will focus on making new breakthroughs in open innovation and integration, and create four highlands including all-round open, international innovation, high-end industries and modern governance.
Lianyungang will focus on building an important international transportation hub for Asia and Europe, an open portal to gather high-quality elements, and an important pivot for the construction of the "Belt and Road" meeting point.
Shouldering the strategic mission of “Building an Open Economy Development Pioneer Zone, Real Economy Innovation Development and Industrial Transformation and Demonstration Zone”, the Jiangsu Free Trade Zone will strive to enhance the level of overseas investment cooperation, strengthen financial support for the real economy and support manufacturing with specific initiatives in 20 areas, such as innovation and development.
Efforts will be made to create a world-class business environment, enhance two-way investment and trade liberalization and facilitation, achieve high-level opening up and high-level innovation and coordinated development, optimize the innovation environment, improve industrial innovation capability, boost the financial service for market players and build independent controllable modern industrial system.
The China (Jiangsu) Free Trade Pilot Zone will also seek to dock the BRI, the development of the Yangtze River Economic Belt and the integrated development of the Yangtze River Delta so as to build a window of ecological priority and green development, and build a synergy and innovation community in the Yangtze River Delta for the realization of high quality development by integrating into the major national strategies.
(source:ourjiangsu.com )
