China (Fujian) Pilot Free Trade Zone

China (Fujian) Pilot Free Trade Zone [Photo provided to chinadaily.com.cn]

Officially launched in April, 2015,China (Fujian) Pilot Free Trade Zone covers a total area of 118.04 square kilometers and consists of three areas: Pingtan Area (43 square kilometers), Xiamen Area (43.78 square kilometers, including the 0.6-square-kilometer Xiangyu Bonded Zone, 0.7-square-kilometer Xiangyu Bonded Logistics Park and 9.51-square-kilometer Haicang Bonded Port), and Fuzhou Area (31.26 square kilometers, including the 0.6-square-kilometer Fuzhou Bonded Zone, 1.14-square-kilometer Fuzhou Export Processing Zone and 9.26-square-kilometer Fuzhou Bonded Port).

According to the Overall Plan for the China (Fujian) Pilot Free Trade Zone approved by the State Council, the Fujian FTZ will give full play to the Taiwan advantages, adopt innovative cross-Strait cooperation mechanism, promote free-flowing of goods, services, capital and personnel and enhance the economic connection of Fujian and Taiwan. At the same time, it will also fully leverage the advantages of being the frontline of opening up, accelerate the formation of a new pattern of opening-up at higher level and expand in depth and breadth exchanges and cooperation with countries and regions along the 21st Century Maritime Silk Road. After three to five years of reform, the aim is to build a free trade zone with investment and trade facilitation, prominent financial innovation features, sound service and legal system, and convenient and efficient supervision.