Fujian optimizes policy advantages, seeks development

Fujian province should seek further development by leveraging its advantages as a national free trade zone and the core area of the 21st Century Maritime Silk Road, noted Huang Maoxing, dean of the School of Economics of Fujian Normal University.

Huang, also a deputy to the second session of the 13th National People's Congress, made the remarks on the sidelines of the ongoing national legislature meeting in Beijing.

Fujian has taken a slew of measures to step up the construction of the Fujian FTZ and the core area of the maritime silk road in the past four years, which are now paying dividends, according to Huang.

Since its inception in late 2014, the Fujian FTZ has spearheaded in policy reform and innovation. It has introduced 339 measures to facilitate trade and investment, of which 32 have been promoted nationwide and 136 are being promoted around Fujian province, official data show.

Thus far, a total of 75,000 companies including over 3,700 overseas firms have registered in the zone, with accumulative registered capital of 1.7 trillion yuan.

Meanwhile, the province has also seen closer trade links with the countries involved in the Belt and Road Initiative. According to Huang, in 2018, the trade value between Fujian and the BRI countries reached 394.6 billion yuan ($58.46 billion), registering an uptick of 11 percent year-on-year.

Going forward, Huang suggested that Fujian continue to transform its policy advantages into economic growth drivers. The measures he mentioned include optimizing the business climate, deepening policy reform and innovation and stepping up talent cultivation.