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The State Council Issues the Master Plan for China (Chongqing) Pilot Free Trade Zone

The State Council of the People’s Republic of China, China’s cabinet, has issued the Master Plan for China (Chongqing) Pilot Free Trade Zone on March 15, 2017.

The notification says that the establishment of China (Chongqing) Pilot Free Trade Zone (hereinafter refer as FTZ) is a major decision made by CPC Central Committee and the State Council and a major initiative on deepening comprehensive reform and opening up, advancing the “Belt and Road” Initiative, implementing Yangtze River Economic Belt Strategy and Western Development Strategy.

The total area of FTZ is 119.98 km2, including three regions, namely 66.29 km2 for Liangjiang Area (including 8.37 km2 of Lianglu Cuntan Bonded Zone), 22.81 km2 for Xiyong Area (including 8.8 km2 of Chongqing Xiyong Comprehensive Bonded Zone and 0.15 km2 of Chongqing Rail Bonded Logistic Center [Type B]) and 30.88 km2 for Guoyuan Port Area.

Liangjiang Area will focus on high-end industries and factors, mainly developing premium equipment, core electric components, cloud computing, biomedicine and other emerging industries, headquarters trade, trade in service, e-commerce, logistics and distribution, professional service, financing and leasing, research and design and other modern services. We shall open up and innovate the financial industry, accelerate development through innovation and enhance the attraction and influence of logistics, technology, assets, talents and other factor resources.

Xiyong Area will underscore transforming and upgrading processing trade with a focus on manufacturing industry like electronic information, smart devices and bonded logistics and distribution service and improving the development model for processing business.

Guoyuan Port Area will emphasize on establishing a multi-modal transport and logistics and distribution center by focusing on services like international container transit, break bulk and consolidation, and distribution and advanced manufacturing innovation.

DOWNLOAD: The Master Plan for China (Chongqing) Pilot Free Trade Zone

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