Business China

A Good Start of Chongqing Free Trade Zone

+86-020-2917 9715
From January to July this year, there were 385 projects in Chongqing, involving 212.821 billion yuan. The number of new enterprises was 7,813, accounting for 10.9% of the total.

What is the charm of Chongqing free trade zone, attracting many projects and investments?

China Free Trade Zone (FTZ)

Chongqing hand over beautiful "report card"

On April 1 this year, Chongqing free trade zone was officially listed. Before long, Chongqing Baosheng international trade co., LTD. was established. In the past, the company's main business was in Hong Kong. "We import mechanical and electrical equipment, especially printing equipment, and Hong Kong as a free trade port is a necessary hub for foreign trade." Zhang Bo, deputy general manager of Chongqing Baosheng international trade co., said they moved Hong Kong's business to Chongqing for only one reason: we are optimistic about the development potential of Chongqing free trade zone.

The financing lease of the aircraft, the titanium alloy of aviation, the power system of transportation aviation, the bonded trade of import and export pharmaceutical equipment... since listing, Chongqing has attracted a lot of market subjects and capital projects.

Data show that in the first July of this year, the total number of projects in Chongqing free trade zone was 385, involving 212.821 billion yuan. The number of new enterprises is 7,813, accounting for 10.9% of the total, with 123 foreign-invested enterprises(FIEs) accounting for 21.7% of the total.

Institutional innovation brought a good start

"The key word in Chongqing free trade zone is replication and innovation. And institutional innovation is particularly critical. "Said Liao Hongjun, Deputy Director of the Municipal Commission of Commerce.

Since the listing, our city has gradually implemented the first two batches of reform trials in the first two batches of the pilot free trade zone with the conditional replication promotion, and now the 49 items have been implemented. Construction issues such as the single window of international trade are pressing ahead.

At the same time, our city has established the investment to be liberalized and facilitated to the core, and the regulation to deepen the core of the system innovation focus, we have formed 31 innovative measures in the field of investment, 48 innovative measures in the trade area, and 38 innovative measures in the financial sector, and 24 innovative measures were monitored after the incident. Chongqing Customs, Chongqing Inspection and Quarantine Bureau and other departments also launched supporting measures.

In addition, the city also innovates to establish the regional linkage development mechanism, which is beginning to see results in the exploration of land trade rules, the promotion of the Yangtze river economic belt and the synergistic development of Chengdu-Chongqing urban agglomeration. For example, in terms of land trade rules, our city is relying on the China-Europe railway (Chongqing) international transport channel to actively promote the linkage of postal and cross-border e-commerce, and explore new rules for international rail travel, and promote the credit settlement of railway transportation trade, explore new rules of international railway supply chain finance.

We will explore a number of pilot reforms

"Previously, the company's verification inventory would have at least three days' worth of production capacity, affecting a total value of about $87 million. Under the new model, the company's production and operation arrangement will not be affected, introduced by the responsible person of Inventec (Chongqing) co., LTD.

The so-called new model is a new regulation model of Chongqing free trade zone innovation in the special supervision area of the customs. That is, self-filing, self-determination of the verification and sales cycle, autonomous nuclear report, independent tax repayments, simplified business approval procedures.

In the case of self-filing, the original single manual audit was replaced by the system of “discriminant + artificial audit + post-review". Through the implementation of the independent filing, enterprises need not go to the customs multiple times to go through the examination procedures of the paper, the processing time of the single business is changed from the original 2-3 days to the online instant. Enterprises can save more than 20,000 yuan per year in human input, document production and transportation.

"Four from one simple" is one of the effective explorations of the pilot experience of reproducing and promoting the reform through the cultivation of the side construction in our city.

Currently, our city has explored a batch of pilot reform experience, which is expected to be promoted nationwide: It includes the pilot construction of the market comprehensive supervision platform of Chongqing free trade zone and the construction of the supervision system; Innovation of railway transportation trade settlement in China and Europe (Chongqing); Explore the implementation of the "air inspection and export" regulation model of bulk imported food;In the third batch of free trade pilot zone, the regional identification system was first established.

Contact Business China

  • James Oliver "True professionals, very helpful and dedicated. Your support team is fantastic."
  • Robert Gatti "Our advisor was brilliant and we were given more help that we knew we needed. What I liked most about Business China's service was the prompt and businesslike approach.It helped us dramatically. At a...
  • Vivian Belfanti "Quality work and friendliness is why I chose to work with Business China. Business China is organized very easy to work with."
  • Tim Orchard "Thanks to Business China’s professional guiding and efficient processing about company incorporation and VAT refunding, our new entity in Guangzhou already step into a virtuous circle. I have to say...
  • Victor Declety "Business China allows us to focus on our customers instead of being tangled into enterprise level business incorporation and maintance."
  • Ben Hunter "Business China is helping people who don't necessarily know how to connect your current business with the booming Chinese market and how to lay out your 'China Dream' here specifically. It has been...
  • Daniel Wong "A great customer experience! The flexability and speed of response from the account manager, as well as the quality of the service process was exceptional."
  • Stacey Morris "Businesss China has been superb. Their customer service is great. The guys there respond very quickly and go above and beyond that help."
  • M. Salem Having real-time information allows us to deal with issues immediately before they become problems.We are satisfy with Business China.
Request a Proposal

Drop Business China a quick message to let us know about your incorporation needs.