|Building an International Land Port Hub Free Trade Zone|
According to the Municipal Free Trade Office, Jinhua recently published the work plan for constructing the International Land Port Hub Free Trade Zone in the Jinyi area of the China (Zhejiang) Pilot Free Trade Zone (FTZ). This plan provides a comprehensive framework for the future high-level development of the Jinyi area.
The work plan outlines the objectives for the Jinyi area. It emphasizes the optimization and upgrading of trade, the expansion of channels, the integration of science, industry, and trade, as well as the promotion of institutional integration and innovation both internally and externally. The ultimate goal is to accelerate the development of a new international trade center, an international land port hub, and the Manufacturing Innovation Demonstration Site. This will establish an Inland Open System Innovation Highland, creating a new model of connectivity and openness in Jinyi.
The development in the Jindong area is currently focused on creating an intelligent manufacturing hub and a digital trade innovation center. They are actively working on an advanced technology platform and a national logistics hub that emphasizes production services. The objective is to integrate production and services within the FTZ, promoting both commercial services and advanced manufacturing. The overall goal is to enhance the quality of development in the Jinyi New District.
In the Yiwu Block, the aim is to create a globally recognized center for free trade in small commodities. It will serve as a national logistics hub, emphasizing commercial and service industries, and fostering innovation in trade and industry collaboration. The area is strategically positioned to play a crucial role in domestic and international economic cycles. The goal is to become a leading small commodity FTZ, making substantial contributions to the development of high-level inland economic openness. By 2023, the counties, cities, and districts within the pilot FTZ are expected to achieve import and export growth rates as well as foreign investment utilization rates that are three percentage points higher than the provincial average.
The plan outlines that the Jinyi area aims to strengthen the connection between the district and its blocks, making the most of functional platforms like the FTZ innovation pilot fields and comprehensive protection zones. This will create a pattern of integrated development. The district also plans to set up an expert think tank for the pilot FTZ to tackle institutional challenges and find solutions on a regular basis. Moreover, they will establish a mechanism to attract high-level projects by empowering platform resources.
The 2023 plan for the Jinyi area outlines ten major reform tasks:
1. Piloting a positive list approach for managing imported consumer goods.
2. Implementing innovative pilot projects for new types of barter trade.
3. Introducing a regulatory model of “inspection before shipment.”
4. Establishing a comprehensive service platform that integrates customs, tax, transportation, and warehousing services.
5. Facilitating international internet exchange and access.
6. Standardizing digital services for bulk commodity transactions in the Jinyi comprehensive bonded area.
7. Streamlining the approval process for investment projects.
8. Integrating port, customs, and shipping services within the comprehensive railway service system of the sixth port area.
9. Driving innovation in cross-border financing and digital empowerment applications for the Yiwu-Xinjiang-Europe (YXE) China Railway Express (CRE).
10. Enhancing the efficiency of work permits and residence permits for foreign high-end talents.
(By Luo Yi)