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Fruitful results of Pingtan free trade zone

( chinadaily.com.cn )

Updated: 2016-04-22

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Fruitful results of Pingtan free trade zone

File photo of the ceremony for the inauguration of the Pingtan free trade zone, Fujian province, April 21. [Photo/ptnet.cn]

April 21, 2016 marks the one-year anniversary of the Pingtan free trade zone, which was inaugurated on the same date a year ago, ptnet.cn reported.

During the past year, the zone has made huge advances in realizing its goals of becoming an international tourist island and a "Common Homeland" for people on both sides of Taiwan Straits.

It has rolled out considerable innovative measures in investment, customs clearance, finance as well as management and supervision. Thanks to those measures, the zone has gained over 3,000 new companies in past one year, a surge of 475 percent year-on-year.

Let's take a look at some highlights of its achievements.

1. Quicker business registration

With simpler business registration procedures, it only takes three hours for a company to get its business license, much quicker than the previous seven months.

2. Easier customs clearance

Taiwan's liquor and home appliances can go through the customs clearance easily and enter Pingtan's Taiwan Town, provided they hold certification of Taiwan's Bureau of Standards, Metrology and Inspection and test results by the Taiwan Accreditation Foundation.

3. Tax refunds for overseas tourists

From Oct 1, 2015 onwards, tourists from foreign countries and Hong Kong, Macao or Taiwan who stay in the mainland for less than 183 days are qualified for an 11 percent tax rebate on goods bought at designated stores when they leave Pingtan.

4. Strengthened relations with Taiwan

Pingtan opened the Taiwan Innovation Park in last August, to provide an entrepreneurship platform with low costs and preferential policies for young entrepreneurs from the mainland and Taiwan.

Pingtan also got a stomatological hospital with Taiwan origin in January. The hospital specializes in dental implants, orthodontics, oral disease treatment and dental cosmetics, which provides local people advanced medical equipment and top dental treatment services.

The zone is also planning to build residential communities for local Taiwan people in its Aoqian, Jinjingwan, Lancheng and downtown areas.