Jinan free trade zone celebrates 5 years of growth

On October 30, a forum on the development of the Jinan Area of the China (Shandong) Pilot Free Trade Zone was held in Jinan, capital of East China's Shandong province, marking its fifth anniversary with a display of recent innovations.

Since its establishment in 2019, the Jinan free trade area has evolved from an experimental field into a hub for reform, achieving over 410 institutional innovations, with 43 recognized at the national level and several shared across Shandong province and the Yellow River Basin.

Among its pioneering developments, the Jinan Area introduced the first digital locker to securely share documents, licenses, and credit information across departments, as well as a medical insurance data-sharing model connecting insurers, financial institutions, and businesses.

Driven by the needs of businesses, the Jinan Area has significantly advanced high-quality economic growth through new quality productive forces. For instance, the area has seen significant growth in the biopharmaceutical industry. Hosting over 4,000 companies like Qilu Pharmaceutical and Bloomage Biotech, its industry scale has doubled to over 150 billion yuan ($21.06 billion) since 2019. The area leads in chemical and biological drugs, and its market dominance spans numerous global and domestic products, including hyaluronic acid.

The Jinan Area is aiming for a new horizon of high-quality growth and is committed to creating a "Jinan model" for reform. It will continue to build a market-friendly environment, drive coordinated innovation within Shandong, and further collaborate within the Yellow River Basin.

Moving forward, the Jinan Area will continue to leverage its free trade advantages, integrate diverse resources, and outline a vibrant blueprint for high-quality development.