The Shenyang area of the China (Liaoning) Pilot Free Trade Zone is playing a vital role in driving the region's economic growth, providing useful experiences for the revitalization of Northeast China and building a highland for its opening-up to the outside world.
Established in April 2017, the area has been an experimental field for the reform of market-oriented systems and mechanisms.
Institutional innovation is the core with duplication and promotion basic requirements. In the first four months of this year, the total import and export value of the area reached some 4.63 billion yuan ($691.17 million), a year-on-year increase of 160 percent. The export value totaled 3.26 billion yuan, a year-on-year increase of 255.7 percent; the import value was 1.37 billion yuan, a year-on-year increase of 58.9 percent.
The number of innovative enterprises has reached more than 3,000 and there are a total of 314 high-tech enterprises. This year, Liaoning adopted 10 innovative measures that were launched by the area, including the Exit Certificate of Origin Credit Supervision and Visa Model. Other measures, including the Taxation Pass Studio, have been passed on to the Ministry of Commerce for nationwide application.
Shenyang has strengthened its economic and trade cooperation with Japan, South Korea, Russia, Mongolia and other countries by leveraging its advantages as a central city in Northeast China to enhance its opening-up pattern. The area has become an important node of e-commerce cargo carried by China-Europe and China-Laos trains through the operation of comprehensive bond area port direct businesses.
It has built a service platform tailored for enterprises under the Regional Comprehensive Economic Partnership with efficient procedures to attract more top overseas talent.
Shenyang is proposing to speed up the construction of the free trade area; complete the Shenyang area to implement the reform and opening-up of the provincial free trade pilot zone; and form more than 30 innovative cases that can be replicated and promoted throughout the year.
Data show that from January to April, the total import and export volume of the Taoxian Park in the comprehensive bonded zone of the area was 3.6 billion yuan, a year-on-year increase of 3.6 times. The growth rate ranked first in the province and was higher than the national average.
The Shenyang area of the China (Liaoning) Pilot Free Trade Zone is home to more than 3,000 innovative enterprises. CHINA DAILY
