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A pioneer in reform and innovation

China Daily | Updated: 2020-01-14 00:00
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A hub for high-level opening-up

Established in April 2015, China (Guangdong) Pilot Free Trade Zone is designed as a pioneering zone for high-level opening-up and a demonstration zone for the cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area.

Consisting of three sections

With a total area of 116.2 square kilometers, the zone is composed of three sections-Nansha in Guangzhou, Qianhai and Shekou in Shenzhen and Hengqin in Zhuhai.

Opening wider to foreign investors

It is home to the country's first fund and securities company controlled by foreign capital, the first wholly-foreign-funded ship management company, the first foreign-funded mutual insurance company and the first foreign-funded bulk commodity trading platform.

Booming investment from China and overseas

The number of newly-established enterprises in the zone totaled 42,600 in the first 11 months of 2019. Its actual utilized overseas investment amounted to $6.84 billion, accounting for more than 30 percent of Guangdong's total.

High rank in ease of doing business

A KPMG report on ease of doing business in 2019 gave the FTZ a ranking higher than China's average, rating it among the top 15 globally in indicators of starting a business, power acquisition and contract enforcement. It leads China in indicators of cross-border trade, taxation and access to loans.

Pioneer in reform and innovation

The zone has pioneered reform and innovation with many practices being national firsts. It has accumulated 456 cases for institutional innovation.

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