According to Chongqing Municipal Commission of Commerce, in this first half-year, the total import and export volume of Chongqing Pilot Free Trade Zone (CFTZ) reached 203.05 billion yuan, up 9.6% year on year, of which that of the special customs supervision area was 187.36 billion yuan, a year-on-year increase 10.7%.
Since this year, CFTZ has made essential contributions to stabilizing the foundation of foreign trade and foreign investment through such moves as making continuous efforts on cultivating and strengthening open economic entities, reducing restrictive measures, stimulating the vitality of market entities, and attracting multinational enterprises to settle in Chongqing for capital increase.
In this first half-year, multinational companies such as AT&S and Jardine Matheson increased their capital. They expanded production in CFTZ, with the newly registered foreign capital of USD 711 million, up 3.8 times year on year. So far, there have been over a quarter of the city’s import and export enterprises in CFTZ, contributing about 70% of the city’s total import and export trade.
Moreover, as an experimental field for reform and innovation, CFTZ has been implementing various pilot reform tasks in an all-round way since this year, based on the Master Plan for China (Chongqing) Pilot Free Trade Zone. In this first six months, all 151 pilot reform tasks identified in the Plan have been implemented. Forty-one measures for deepening reform and innovation in the Notice of the State Council on Several Measures to Support the Deepening of Reform and Innovation in the Pilot Free Trade Zone have been completed 90.2%. Among the national replicable and applicable experiences, 206 are applicable to Chongqing, representing 94%. The implementation rate of the 21 national measures to promote the development of comprehensive bonded zones is 76.2%.
It is worth mentioning that CFTZ, based on its positioning, has made breakthroughs in the creation of railway bills of lading and financing settlement by railway bills of lading L/C. Three standards, including the standard for intermodal railway transport of international freight forwarders, which was led by CFTZ, have been approved to be upgraded to national standards this year.
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