Tianjin Updates

Tianjin Pilot Free Trade Zone pioneer in reform

(exploringtianjin.com)

Updated: 2020-01-15

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The landscape of Yujiapu Finance District is seen at Binhai New Area of the China (Tianjin) Pilot Free Trade Zone (FTZ) in Tianjin, Sept. 17, 2017.[Photo/Tianjin]

Tianjin Pilot Free Trade Zone (FTZ), has demonstrated 27 trial experiences and practical cases to the country and 328 to the city and relevant regions.

Located in Tianjin Binhai New Area, the FTZ, alongside the other 17 FTZs across the country, serves as a testing ground for new rules and regulations to facilitate trade and investment and improve the business environment that will later be replicated nationwide.

To date, 64,000 market entities have registered since the Tianjin FTZ was launched in 2015, with  registered capital totaling 2.16 trillion yuan ($314 billion), according to a government work report delivered on Tuesday at the opening of the annual session of the Tianjin Municipal People's Congress.

Zhang Zhongdong, deputy director of Tianjin Binhai New Area, said: "In order to roll out more effective and productive demonstration experiences in leading reform nationwide, we commissioned KPMG to conduct evaluations over the 128 reform programs and innovative measures. And up to 55 national innovation achievements was selected.”

The 55 outstanding items included creative steps to improve and facilitate the area aviation maintenance, automobile trade, leasing business, financial measures, import management, and business environment. 

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