Xi'an FTZ implements innovative development

The Xi'an area of the China (Shaanxi) Pilot Free Trade Zone (FTZ) (excluding Xixian New Area) introduced 21,116 new market entities with a combined registered capital of 197.82 billion yuan ($29.51 billion) from January to December 2018.

By the end of 2018, all reform pilot tasks had been completed, resulting in 136 innovations. One of the innovations has been replicated and promoted nationwide, and six of them have been replicated throughout the province.

The Xi'an FTZ has implemented a number of multi-channel and multi-platform registration methods such as WeChat registration, which has reduced the time needed for enterprises to register to just three days.

To save companies time and costs when shipping bulk goods by rail, the Xi'an International Trade and Logistic (ITL) Park, a district of the Xi'an Free Trade Zone, and Xi'an Customs introduced a new customs clearance model known as "manifest merging" in May 2018.

The innovative measure reduces customs clearance fees, shortens customs clearance time, improves customs clearance efficiency, and promotes the trading of goods in inland areas.

With help from the People's Bank of China's policies on the construction of Pilot FTZs, the Xi'an FTZ was able to provide small and micro-enterprises with less than 2 million yuan in pure credit, further improving financial services.

The FTZ has signed the "Belt and Road China-EU Cooperation Industrial Park Strategic Framework Agreement" with Bosch Rexroth Group and Hna Modern Logistics, and it has already attracted nine projects carried out by European Fortune Global 500 companies.

In addition, the FTZ also encouraged local enterprises, such as Shaanxi Automobile Group and Xi'an Aiju Grain and Oil Industrial Group, to set up production centers and logistics parks in Kazakhstan, Russia and other countries.