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Chongqing Pilot Free Trade Zone Builds "One Hub, Three Centers and One Base"


By Xinyi Li, EDITOR    

Chongqing Pilot Free Trade Zone implemented a sere of measures to build the “One Hub, Three Centers, and One Base”.

In the new era, the Chongqing Pilot Free Trade Zone (CPFTZ) has achieved remarkable achievements in the new journey of reform and innovation through bold exploration and great efforts.


Chongqing Pilot Free Trade Zone implemented a sere of measures to build the “One Hub, Three Centers, and One Base”

In recent days, principals of Chongqing Municipal Commission of Commerce, Chongqing Development and Reform Commission, Chongqing Market Supervision and Administration and Chongqing Monetary Authority have made profound analyses on the achievements of CPFTZ and more important future decisions.

Promotion and Construction of CPFTZ in Five Aspects

Pilot Free Trade Zone is considered an important “key” for accelerating China’s opening up to the outside world and deepening the reform. CPFTZ actively explores ways and accumulates new experiences for the reform and opening-up by adhering to the principles of the bold attempt, bold breakthrough, and independent reform upon approval.


Pilot Free Trade Zone is considered an important “key” for accelerating China’s opening up to the outside world and deepening the reform

Generally speaking, CPFTZ takes five measures for its establishment. Firstly, persevere in the policy that CPFTZ shall be a new highland for the reform and opening-up, according to the deployment of the State Council of the PRC, Chongqing Municipal Party Committee and Chongqing Municipal People’s Government. In September 2018, Chongqing also unveiled the Administration and Trial Implementation Method for China (Chongqing) Pilot Free Trade Zone, which defined the tasks and requirements and provided policy support and guarantee.

Secondly, define strategic positioning. It is based on “two-point” positioning, implementing “two-place” and “two-highland” objectives. The strategic positioning of CPFTZ granted by State Council of the PRC realized the creation of  “four zones”. They are three-in-one comprehensive pilot site of investment, trade and financial settlement facilitation, pressure test zone of the open economy new system, pioneering zone of integrated reform system, and coordination and development zone of the opening platform.

Thirdly, complete the operation mechanism. It will help to perform the construction of CPFTZ.

Fourthly, strengthen system innovation. CPFTZ has implemented 122 pilot reform task accounts (151 in total), unveiled 32 supporting documents and 500-plus supporting measures. Meanwhile, it formed 141 innovative systems in 4 fields such as investment, trade, finance and interim and post-event supervision. Besides, it also explored and formed 13 innovation cases and 34 institutional innovation results. In addition, it contained 6 that were nationally initiative innovation cases and 11 that were nationally initiative institutional innovation results.

Fifthly, persist in scientific and technological innovation and institutional innovation. “Two lists” shall be strictly promoted. For one thing, the “policy list” provides detailed policy measures for all pilot reform tasks in the overall scheme. For another, the “project list” lists corresponding items and projects for the innovation of all policies and systems. Driven by the “two lists”, CPFTZ has achieved a sound interaction between institutional innovation and project launching.

Import and Export Foreign Trade Value of CPFTZ Accounts for 2/3 of the Whole City

CPFTZ has achieved remarkable achievements in five aspects in the opening-up. First of all, the construction of a new channel for international land-sea trade of the China-Singapore (Chongqing) accelerated. Secondly, the service function of the China Railway Express (Chongqing-Europe) has been continuously expanded. Thirdly, the port opening function has been further highlighted. Fourthly, financial opening innovation has yielded tangible results. CPFTZ initiative started pilot logistics financial innovation and promoted new products for international land-sea trade supply chain financing. Fifthly, open economic development has been promoted. Currently, the total import and export foreign trade value of CPFTZ accounts for 2/3 of that of the whole city.


the total import and export foreign trade value of CPFTZ accounts for 2/3 of that of the whole city

Accelerate and Explore New Regulations for Land Borne Trade

In the future, CPFTZ will continuously improve the development level of Pilot Free Trade Zone, and promote a profound and solid construction of the Pilot Free Trade Zone.

The first one is to be based on the “national strategies”. It will actively integrate and serve national strategies such as the “Belt and Road” Initiative, Yangtze River Economic Zone and Development of the West Regions, accelerate to build a logistics hub and a port highland for inland international trade.

The second one is to focus on “institutional innovation”. It should create an upgraded Pilot Free Trade Zone by taking facilitation of cross-border flow of market factors as the core.

The third one is to pay attention to “implementation of schemes”. It should accelerate and promote pilot tasks and key and difficult items to be implemented in the overall scheme.

The fourth one is to make effort to improve “operating environment”, it will push forward the reform of examination and approval of construction projects and create an open, transparent, fair and impartial business environment by further deepening the reform of “simplify procedures, decentralize powers, enhance supervision, and optimize public services”.

The fifth one is to highlight the “individual exploration”. CPFTZ willfully promote and explore regulations of land-borne trade based on its own conditions. For example, on the one hand, it will accelerate the construction of a single certificate standardized system of international land transportation, and manage to make such a system a national standard. On the other, it will promote railway consignment note recording, facilitate regional cooperation and increase overseas promotion force on the railway consignment note and logistics financial innovation results. The last one is to implement the “high-quality development”. CPFTZ will implement the negative list of foreign investment (2018 Version), so as to promote the expansion and opening of service industry field in an orderly manner and further enhance opening-up level.

Source: Chongqing Daily


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