Country for PR: China
Contributor: PR Newswire Asia (China)
Tuesday, May 14 2019 - 18:33
AsiaNet
China (Shaanxi) Pilot Free Trade Zone Development Forum is held to further the country's opening up and development
XI'AN, China, China, May 14, 2019 /PRNewswire-AsiaNet/ --

The China (Shaanxi) Pilot Free Trade Zone Development Forum was held in Xi'an, 
the capital of Shaanxi province on May 12. The forum was hosted by Shaanxi 
Provincial People's Government and organized by a cohort of firms and 
organizations, including the Shaanxi Provincial Department of Commerce (the 
provincial office handling the promotion of free trade) and the Belt and Road 
Pilot Free Trade Zone of Xi'an Jiaotong University.


Photo - https://photos.prnasia.com/prnh/20190513/2464309-1 
China (Shaanxi) Pilot Free Trade Zone Development Forum

The event was comprised of one main forum and two parallel conferences: China 
(Shaanxi) Pilot Free Trade Zone Development Forum, China (Shaanxi) Pilot Free 
Trade Zone Innovation and Development Seminar and Seminar on Synergetic 
Development among Five Provinces in Northwest China. 

Themed "deepening reform and opening up and promoting high-quality development 
in the pilot free trade zone", the forum invited officials from government 
authorities involved in the advocacy and promotion of free trade zones, subject 
matter experts on the topic from within China and from abroad, representatives 
from some of the most well-known international free trade zones as well as from 
several leading think tanks to discuss enhancing the zones' ability to meet the 
central government's "opening up" objectives, improving the business 
environment within the zones, creating more opportunities for further 
cooperation and development among free trade zones under the Belt and Road 
Initiative, in addition to furthering the reform and opening up of inland pilot 
free trade zones and building consensus for the high-quality development of 
Shaanxi Pilot Free Trade Zone. 

In the past two years since its inception, China (Shaanxi) Pilot Free Trade 
Zone has strategically positioned itself to deliver innovative solutions around 
fundamental models that are replicable and scalable, and, working 
independently, has made quite a lot of progress in doing so. The zone has also 
aggressively developed a hub, portal and blueprint for a mobile economy that 
will lead to the build out of an infrastructure to support the Belt & Road 
initiative as well as the further development of Western China. The zone has 
explored and experimented with different models for streamlining 
administration, strengthening regulation and improving services in a move to 
facilitate investment, trade, cultural exchanges and international cooperation 
in modern agriculture, demonstrating the pilot free trade zone's position as a 
test field for further enhancing reform and opening-up policies. 

As of the end of March 2019, the zone was home to 40,694 businesses and 
organizations, including 347 foreign-invested companies. The zone witnessed a 
significant decrease in overall customs clearance time. Foreign trade in and 
out of the zone valued 264.9 billion yuan (approx. US$38.6 billion) in 2018, 
accounting for 75% of Shaanxi province's total exports and imports. Driven by 
the pilot free trade zone, the province recorded combined exports and imports 
amounting to 351.38 billion yuan (approx. US$51.3 billion) and total output 
value amounting to 2.44 trillion yuan (approx. US$356 billion) for the year, up 
29.3 percent and 8.3 percent, respectively, with the latter 1.7 percentage 
points higher than China's average growth rate. This has set a new starting 
point for the province's economic and social development alongside the initial 
goal of promoting the country's opening up initiatives. 

Shaanxi provincial vice governor Zhao Gang said that the Chinese government 
confirmed its determination to deepen reform and opening-up in the new era with 
practical measures during the 2nd Belt and Road Forum for International 
Cooperation. Shaanxi will leverage the pilot free trade zone's position as a 
laboratory for developing and testing policies that support the implementation 
of the measures with the aim of providing companies with a fair, open, unified 
and efficient access to a friendly legal and business environment that assists 
them in expanding their globalization efforts, while raising the bar and 
delivering according to the new "bar" on what is expected in terms of the 
country's reform and opening-up. The province plans to work together with 
countries targeted by the Belt & Road initiative with a goal of creating a more 
productive future by capitalizing on the pilot free trade zone serving as a 
platform to strengthen communications, exchanges and pragmatic collaborations 
on projects that will bring benefits to all. 

For more information about the event, please visit http://ftz.shaanxi.gov.cn/

About China (Shaanxi) Pilot Free Trade Zone

China (Shaanxi) Pilot Free Trade Zone is one of China's pilot free trade zones 
approved by the Chinese government on August 31, 2016 as part of the third 
group of such zones to be approved as well as the sole pilot free trade zone in 
northwestern China. The zone is strategically positioned to deliver innovative 
solutions for fundamental models that are replicable and scalable, to implement 
the Central Committee of the Communist Party's and the State Council of China's 
requirements for enhancing the Belt & Road Initiative's role in the development 
of Western China while supporting the access of the country's western gateway 
cities to foreign markets, to transform the pilot free trade zone into a test 
field for the implementation of the country's ongoing reform and opening up 
policies, to lead other Chinese inland cities in reform and opening up and to 
create a key base to support the economic cooperation and cultural exchanges 
with countries targeted by the Belt & Road initiative.

SOURCE: China (Shaanxi) Pilot Free Trade Zone

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