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Pingtan FTZ impresses in first half year

( chinadaily.com.cn )

Updated: 2015-10-27

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The Pingtan Free Trade Zone (FTZ) put on quite an impressive performance over the six months since its inauguration in April, leading three Fujian FTZs in innovation and business growth, according to authorities.

The Fujian FTZ, with three parts in Pingtan, Fuzhou and Xiamen, has implemented reforms in 109 items as of the end of September. 57 of them, or 52.3 percent, are in Pingtan, figures from the local FTZ office show.

In addition, among 45 new FTZ policies and measures in Fujian, 28 of them were made by Pingtan.

Pingtan also copied 22 innovation ideas from other FTZs, ranging from investment management to trade, financing and customs supervision.

Pingtan’s preferential policies and incentives for investors have attract a large number of enterprises. Statistics show that from January to September, a total of 1,657 companies came to Pingtan, an increase of 2337 percent over last year.

The new companies include 1,420 domestic ones and 237 from overseas (including Taiwan), with combined registered capital of 69 billion yuan ($11 billion).

Cross-Straits e-commerce, financing service, tourism and cultural creativity have witnessed the fastest growth.

Authorities also made great efforts in promotion at business fairs at home and abroad, signing 108 projects worth 205 billion yuan. The projects range from high-technology to modern service, tourism, ocean industries. and infrastructure.

Pingtan is also building as a transportation hub and international tourist destination. It has handled 26 shipments of cargo via cross-Straits e-commerce, worth 10.4 million yuan.