- The CFTZ covers 119.98 km2 of land in three areas, as we mentioned above, which account for only 1/1000 of Chongqing's land area. However, it created 70% of the city's total import and export trade and gathered 25% of the city's foreign capital in 2019.
- So far, 148 of the 151 pilot reform tasks set out in Master Plan have been completed, with an implementation rate of 98 percent.
- A total of 36,385 new enterprises (including branches) have been registered in the CFTZ, with a total registered capital of 465 billion yuan.
Chongqing- On March 31, the press conference on the third anniversary of China (Chongqing) Pilot Free Trade Zone (CFTZ) was held in Chongqing. In the past three years, the CFTZ has achieved fruitful achievements, and the business environment in Chongqing has continued to improve.
The press conference on the third anniversary of China (Chongqing) Pilot Free Trade Zone (CFTZ) was held in Chongqing on March 31.
The CFTZ is a regional free trade zone set up by the Chinese government in Chongqing. It covers an area of 119.98 km2, containing three parts –Liangjiang New Area, Xiyong Area, and Guoyuangang Area. The CFTZ was approved to establish by the State Council on March 15, 2017, and officially established on April 1, 2017.
So far, 148 of the 151 pilot reform tasks set out in Master Plan have been completed, with an implementation rate of 98 percent.
The State Council issued the Master Plan for China (Chongqing) Pilot Free Trade Zone on March 15, 2017. "So far, 148 of the 151 pilot reform tasks set out in Master Plan have been completed, with an implementation rate of 98 percent." Song Gang, The Vice Director of Chongqing Commerce Commission, said.
CFTZ made 70 percent of Chongqing's import and export volume in 2019
The CFTZ has created 70% of the city's total import and export trade and gathered 25% of the city's foreign capital in 2019.
Let's looking at a set of the latest data. The CFTZ covers 119.98 km2 of land in three areas, as we mentioned above, which account for only 1/1000 of Chongqing's land area. However, it created 70% of the city's total import and export trade and gathered 25% of the city's foreign capital in 2019.
It has released a vast "magnetic attraction effect," attracting many foreign-funded enterprises, international capital, and excellent talents to gather here. It is also promoting a higher level of openness and development in Chongqing and even the western region of China.
Under the guidance of the CFTZ, Chongqing is accelerating to build itself as an opening highland of Inland China. In 2019, the city's total import and export value realized 579.28 billion yuan, grew up 11% year-on-year. That was 7.6 percentage points higher than the national average rate. The city's trade in services reached the US $27.2 billion, increased 11.3% year on year. The actual utilization of foreign investment reached US $10.31 billion, ranking first in the central and western regions, and It was the consecutive nine years for entering the US $10 billion. Besides, A total of 293 out of Fortune Global 500 companies have settled in Chongqing.
Accelerating Chongqing as an inland international logistics hub
The China Railway Express (Chongqing), which connected Chongqing to European countries, has run more than 4,500 trains up to now.
The CFTZ also plays a supporting role in accelerating Chongqing as an inland international logistics hub. The China Railway Express (Chongqing), which connected Chongqing to European countries, has run more than 4,500 trains up to now. The construction of the New International Land and Sea Trade Corridor has become a national strategy, extending to 213 ports in 88 countries. And Chongqing Jiangbei International Airport has opened a total of 95 international and regional routes.
Moreover, through facilitating the customs clearance, the overall time of import clearance at Chongqing port is reduced by more than 60%, and the time of export saved by more than 90%.
With the supporting role of the inland international logistics hub, the emerging industries will accelerate to gather together in Chongqing. Since the CFTZ has been put into operation for three years, the industrial structure has been gradually optimized, and a large number of landmark projects have been launched. The data shows a total of 36,385 new enterprises (including branches) have been registered in the CFTZ, with a total registered capital of 465 billion yuan.
Chongqing's business environment has continued to improve
Through a series of measures, the CFTZ comprehensively improved the level of public services.
The CFTZ issued the work plan for the optimization and improvement of the business environment in Chongqing and formulated 91 specific measures on 20 important aspects closely related to the business environment.
These measures included establishing the country's first free trade zone court and the only trademark examination cooperation center in west China, compressing the start-up time of the enterprise to less than three working days, setting a time limit for handling normal export business in the area to 5.3 working days, which is far lower than the national average of 10 working days.
Through a series of measures, the CFTZ comprehensively improved the level of public services and has won high praise from businesses, and Chongqing's business environment has continuously improved.
In general, since its launch in April 2017, the CFTZ has not only served the national strategy and realized its development, but also injected strong impetus into the development of Chongqing, which has effectively promoted Chongqing to take the leading role in opening up in the western region of China.