Chongqing- The first batch of connected innovation areas for pilot free trade zones in Chongqing Municipality has been approved by the Chongqing Municipal People's Government, according to a press conference on November 2.
It will form high-tech, economic, and logistics industry development zones from Chongqing, Changshou, Wanzhou, Yongchuan, Fuling, Qianjiang, Dianjiang, and Yunyang.
Pilot free trade zones are a strategic measure for China to deepen reform and expand, opening up in the new era drive for high-quality development.
The China (Chongqing) Pilot Free Trade Zone (FTZ) has been in operation for over four years., adhering to institutional innovation as the core in exploring differentiated reform, pioneering industry development, and creating a highland for opening up.
The China (Chongqing) Pilot Free Trade Zone has operated for over four years as part of the third batch of such projects. (Photo/ the Chongqing Municipal Commission of Commerce)
Dividends of innovation shared through greater connectivity
As the ''test field'' of national reform and opening up, the pilot FTZ is exploring new avenues and accumulating experience in reform and opening up, which can only be achieved by replicating such zones' accomplishments on a wider scale.
Zhejiang, Sichuan, and Shaanxi are among the third batch of pilot free trade zones along with Chongqing and have provided a source of reference for others to learn from the experience gained in building collaborative areas for innovation and opening up, as well as good results achieved in expanding functions and the overall level of influence.
The connected innovation area will help the pilot FTZ play a lead role in integrated western development, construction of the Belt and Road and Yangtze River Economic Belt, and jointly creating new heights of inland reform and opening up boosting high-quality development in the regional economy.
Further goals include the endeavor of building a first-class open platform and open environment, fully releasing the dividends of reform, driving reforms that are wider and deeper in scope, improving the level of innovation and development, and providing a demonstration of regional opening to the outside world and engine for high-quality development.
The Chongqing Shapingba District Administrative Services Center of the China Chongqing Pilot Free Trade Zone. (Photo/ the Chongqing Municipal Commission of Commerce)
Power delegation to release development potential
The connected innovation area will take the promotion of reform and innovation experience as the primary goal of construction, as it strives to implement requirements fully, actively replicate the experience and cases of highest practical value such as the transformation of government functions, investment management, trade facilitation, financial innovation and opening, and overall supervision.
Exploration will be carried out simultaneously to dismantle policy and institutional obstacles encountered in the course of reform and development, subject to the interests of safety and risk management, as experimentation in connected innovation is vigorously carried out.
Connected innovation with the pilot FTZ will help produce achievements across regions, departments, and levels, focusing on transforming traditional industries, cultivating emerging industries, and exploring reform and innovation experiences that embody regional characteristics.
Multimodal transportation advantages such as the China Europe Railway Express will drive regional connectivity of industrial zones across Chongqing Municipality. (Photo/ the Chongqing Municipal Commission of Commerce)
An open industrial system will be jointly created to give full play to the platform's functions and advantages, focusing on advanced manufacturing and modern service industries, collaboration with the pilot FTZ, formation of the industrial chain, and the realization of industrial agglomerations.
Sharing mechanisms for investment information between the pilot FTZ and connected innovation area will be established, which will integrate the resources of all parties, form complementary advantages, realize collaborative investment promotions, and spur the implementation of more high-quality projects.
The level of regional connectivity will be continuously improved with reliance on multimodal advantages of the New International Land-Sea Trade Corridor, China Railway Express to Europe, and the golden waterway of the Yangtze River. The Connected Innovation Area will accelerate the improvement of infrastructure and logistical systems, vigorously develop the economy of trade channels, give full play to the industrial benefits of channel logistics and trade belts.
Additionally, effective use will be made of advantages in various logistical hubs and ports in the region, giving full play to special customs supervision, accelerated integration into comprehensive transportation systems, and vigorous development of multimodal transport and the hub economy.