Fujian adds another pilot for market procurement trade

The Jinjiang International Shoes and Textile City in Jinjiang, a county-level city in Quanzhou, East China's Fujian province, was recently approved as a national pilot project for a new purchasing method in the export market, becoming the second of its kind in the province.

The project is adopting the market procurement trading method. It's a new kind of export method. It mostly deals with small commodity exports, while the general export trade is more regulated and supervised, so the quality can be guaranteed. The value of a single-ticket declaration is less than $150,000 and the export goods get customs clearance at the place of purchase.

Compared with general trading, it has the advantages of low entry barriers, simple declaration procedures, fast customs clearance and non-refundable value-added tax.

Covering a total planned area of 7,900 mu (526.67 hectares), Jinjiang International Shoes and Textile City is committed to becoming the biggest shoes and textiles market in China and even in the Asia-Pacific region.

It will also strive to develop as an integrated service platform for the shoes and textiles production and sales chains, as well as become a key production services trading center.

The first phase of the new market has a total construction area of 506,000 square meters. After completion, it will feature product displays and trading. It will also be involved in logistics and distribution, exhibition promotions and cross-border e-commerce related to shoes and even the entire sports shoe industry.

It is estimated that the new market's annual transaction volume could reach 100 billion yuan ($14.68 billion) and the value of foreign trade could be worth more than 50 billion yuan.