Ningbo set to promote FTZ development

Customs officials examine an imported car in the Meishan Free Trade Port Area, Ningbo, East China's Zhejiang province on April 21, 2017. [Photo/IC]

Ningbo, the second largest city in East China's Zhejiang province, is set to promote the development of its free trade zones, with a policy briefing held by Ningbo Customs in its Hangzhou Bay New Zone on March 6. More than 50 local companies attended the meeting. 

The meeting was held to promote the 21 measures released by the State Council on Jan 14 for driving the development of the nation's free trade zones, and to push forward the implementation of the measures in Ningbo as soon as possible. 

Ningbo now features four areas under the special supervision of customs, including the Ningbo Free Trade Zone, Ningbo Export Processing Zone, Cixi Export Processing Zone and Ningbo Meishan Free Trade Port Area.

Statistics from the Ningbo Customs show that these areas hit 89.11 billion yuan ($13.27 billion) in total imports and exports last year, up 20.37 percent year on year and accounting for the city's total foreign trade during the period.

The 21 measures will help enhance the leading role of free trade zones in technological innovation and industrial upgrading, thus boosting the zones' development and local foreign trade, said an official from the Ningbo Customs, adding that the administration streamlining measures included will further boost the vitality of the markets.