Shenyang FTZ undergoes rapid development

The newly-established Taoxian park in the Shenyang sector of the China (Liaoning) Pilot Free Trade Zone has already attracted a raft of companies, both from home and abroad, according to local officials.

They said the number of businesses that have registered in the park and international projects undergoing construction work there over the past three months hit a record.

Statistics from Shenyang FTZ show that Taoxian park has settled in a number of well-known domestic aviation manufacturing enterprises, including AVIC SAC Commercial Aircraft Company Limited, and created a 133-hectare aviation manufacturing zone.

Meanwhile another 12 international projects -- including a Bombardier Q400 aircraft assembly project, Fangde cross-border e-commerce service platform, a China-Europe Import Commodities Exhibition Center and Shenyang Electromechanical Products Maintenance and Remanufacturing Exhibition and Trading Center -- are being promoted.

Taoxian park is the core functional area of the Shenyang FTZ. It focuses on the development of industries with a strong dependence on air transportation -- including aviation manufacturing, cross-border e-commerce, equipment maintenance and remanufacturing, aviation logistics, bonded processing, international trade and other related industries. 

A guard silently stands watch at the Shenyang Comprehensive Bonded Zone. [Photo/chinanews.com]

It provides service support for the development of the FTZ with investment and trading, efficient allocation of resources, convenient and efficient supervision.

Free trade zones refer to areas that enjoy preferential policies, such as favorable tax rates, easier customs clearance, and reduced bureaucracy for businesses.

The central government announced the launch of the China (Liaoning) Pilot Free Trade Zone on April 1, 2017 to revitalize the traditional industrial base of Northeast China and promote international economic and trade cooperation in Northeast Asia. 

The Shenyang part of the Liaoning zone formally started operations on April 10 in 2017.

In December 2018, Taoxian park became affiliated to Shenyang FTZ after it passed a review by a national joint inspection and acceptance group consisting of eight ministries -- including the General Administration of Customs, the National Development and Reform Commission and the Ministry of Finance.

An aircraft manufacturing plant in Taoxian park in the Shenyang sector of the China (Liaoning) Pilot Free Trade Zone. [Photo/Shenyang Daily]