Xiamen FTZ to advance development of supply chains

The Xiamen Free Trade Zone (FTZ) has been listed among the pilot areas of national innovation and the application of supply chains, according to China's top commerce authority on Sept 21.

A supply chain is a system of organizations, people, activities, information, and resources involved in moving a product or service from suppliers to customers.

Giving full play to the FTZ's advantages in location and preferential policies, Xiamen has established many industrial supply chain platforms there, including an international logistics service platform, an imported wine platform, a bulk commodity operating center, and an aviation service base.

The FTZ now aims to construct smart supply chain systems for key industries, promote the cooperation between supply chain companies and commercial banks and support the R&D of the technologies and basic software for the supply chains.

By 2020, it is expected that the Xiamen free trade zone will be home to more than five world renowned supply chain companies and establish two supply chain platforms worth 100 billion yuan ($14.58 billion), and seven such platforms worth 10 billion yuan.