By Dongyan Chen, iChongqing News

Chongqing- As the new Foreign Investment Law is under reading and set to be released soon, China shows a strong desire to strengthen its opening-up policy. The Free Trade Zones (FTZ) in China are the pilots in exploring the opening-up policy, while their gains and losses are precious experiences for the country. Chongqing is among the three Free Trade Zones in China, one of the most important pilots on inland opening-up. The vital issue of FTZ in Chongqing 2019 is to provide a competitive business environment in all aspects, Mr. Songgang, Deputy director of the Municipal Commission of Commerce, said in a news conference on 11 March, about the major tasks of FTZ in Chongqing 2019. 

20 days shortened to 3 hours

For the convenience of the foreign enterprises in Chongqing, the time for completion of business start-up procedures is shortened from 20 working days to 3 hours at least, while the customs clearance time is only 1/3 of the past. The Area Identification System being the first one put into use among the 7 FTZs in China, while the establishments of  FTZ Court, Arbitration Center, Intellectual Property Tribunal, the only Trademark Review and Collaboration Centre in the west, attract 22054 enterprises in and out of China, settled down in FTZ Chongqing in 2018, with a total registered capital of over 34 billion USD. Piloted by the FTZ, the business environment in Chongqing ranks the 5th in China, the best in the West.

Guoyuan Port, Chongqing

More needs to be done in 2019

Creating an excellent investment environment, improving the level of trade facilitation, promoting financial innovation services to the real economy, and promoting the field of Human Resources, are Beijing's four requirements in strengthening the opening-up policy. 41 among 53 innovation measures will be adopted by Chongqing, while the first import in the medicines and biological products port, and the international railway mail system, are two innovations of Chongqing.

Furthermore, Chongqing will explore the rules of land trade, the new channel cooperation mechanism of international land and sea trade, and the operation mechanism of multimodal transport, to provide an institutional guarantee for the construction of a highland for an inland international logistics hub and port.

Other methods include promoting the whole coverage of "license separation" reform and optimizing the key work such as "Free Trade special Window". It is mainly to strengthen investment attraction, promote the development of emerging industries, and the integration of new demonstration projects.

An engine for international cooperation

Promoting international cooperation is highly emphasized by the city, while the FTZ is its driver. In Liangjiang New Area, an International Cooperation Center was unveiled in 2018, and international cooperation platforms as Sino-German, Sino-Swiss, Sino-Italy, Sino-Korea projects are operating soundly. With the establishment of overseas investment agencies, accelerating the improvement of the international cooperation service system which integrates government affairs, production, life, and the talents, more international cooperations are underway.

Some overseas trade associations play an active role in the process. The UK-Chinese Trade Association, British Chamber of Commerce in southwest China, and Australian Chamber of Commerce of China in West China cooperate with the local government by introducing projects such as the Taste of British Lifestyle, and the Cross-border e-commerce shopping festival in the city.

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