Shenyang enacts 105 policies on free trade

Shenyang in Liaoning province issued its first batch of trade facilitation policies on March 29, as Shenyang’s part of the Liaoning Free Trade Zone will soon be established, Xinhua reported.

The newly-launched 105 policies are already in place in other Chinese free trade zones operating successfully over recent years, including the Shanghai Free Trade Zone and Fujian Free Trade Zone.

According to the list of new policies, 19 policies out of 105 will be enacted in the whole of Shenyang city, including providing one-stop administrative examination and approval services, simplifying business registration procedures, as well as much more relaxed land usage policies.

The other 86 policies will only be adopted in the Shenyang part of the Liaoning Free Trade Zone. With a focus on foreign trade businesses, the 86 policies mainly target at reducing investment restrictions, improving customs clearance efficiency and creating better cross-border financing conditions. It is expected that an online comprehensive service platform will soon commence operations in Shenyang.

Based on Shenyang’s plan, the 105 policies will be implemented in stages. By the end of July 2017, Shenyang will focus on policies that involve transforming government functions and pushing forward the transformation and upgrading of trade models. By the end of December 2017, Shenyang will attach more importance to the opening-up of its finance sector.