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China’s Chongqing FTZ sees booming market entity registrations

Abstract : The pilot free trade zone (FTZ) in southwest China's Chongqing Municipality has recorded booming market entity registrations over the last four years, with emerging industries accounting for the lion's share, according to the municipal commission of commerce.

CHONGQING, April 1 (Xinhua) — The pilot free trade zone (FTZ) in
southwest China’s Chongqing Municipality has recorded booming market
entity registrations over the last four years, with emerging industries
accounting for the lion’s share, according to the municipal commission
of commerce.

Over 50,000 enterprises have been established in the Chongqing pilot
FTZ since it was established in 2017, said Zhang Zhikui, director of the
municipal commission of commerce, at a press briefing on Wednesday.

More than 75 percent of the newly registered enterprises are engaged
in the transport, information transmission, software and information
technology services, and high-tech industries, Zhang added.

The Chongqing pilot FTZ is now home to one-fourth of the
municipality’s foreign trade firms, contributing approximately 70
percent of its foreign trade volume and attracting over 40 percent of
foreign direct investment.

The municipality was in February approved as a port of entry for
imported drugs. It is the only such entry port in west China and the
fourth in the Chinese mainland following Beijing, Shanghai and
Guangzhou.

It was also added to a list of China’s border ports which allowed
eligible international travelers in transit to avail of a 144-hour
visa-free stay in 2019. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: China’s Chongqing FTZ sees booming market entity registrations

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