It is expected Guoyuan Port will go totally automatic by 2019.

By Keqiao Cheng, EDITOR

China’s western municipality of Chongqing released Provisions for Trial Implementation on the Administration of China (Chongqing) Pilot Free Trade Zone (hereinafter referred to as Provisions) October 8.

The new Provisions have made clear which areas and industries in Chongqing are included in the Free Trade Zone (hereinafter referred to as FTZ), and what types of trade or business are supported.

According to the Provision, Chongqing will aim at building the FTZ into an international logistics hub and trade-financial center in inland China. Meanwhile, the Provisions have shown Chongqing’s ambition to convert the FTZ into a service industry center and modern manufacturing base.

The FTZ in Chongqing consists of three parts, namely Liangjiang, Xiyong, and Guoyuan Port. Specifically, it covers the central districts of Chongqing, including Yuzhong, Jiangbei, Shapingba, Jiulongpo, Nan’an, Beibei, Yubei, and parts of Liangjiang New Area and Xiyong Comprehensive Bonded Zone.

The mentioned components of the FTZ now have a clear division. For instance, Liangjiang Zone will focus on high-end industries, and Xiyong Zone will convert itself into a demonstration zone for transformation and upgrading of processing trade, while in Guoyuan Port it will build a transport and logistics center.

Besides this, the FTZ will support and encourage new types of business and new business models, such as auction or trade of bonded artworks, cross-border e-commerce, bonded automobile warehousing, international logistic service, etc.

At the same time, Chongqing welcomes both domestic and international enterprises to settle its headquarters in the FTZ, and encourages them to establish operations center for trade, logistics and accounting.

Source: CQCB

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