The Pilot Free Commerce Zone (FTZ) in southwest China’s Chongqing Municipality has seen a rise in market entity registrations over the previous 4 years, with rising industries gaining share. lion, in accordance with the municipal commerce fee.
CHONGQING (UrduPoint / Pakistan Level Information – April 1, 2021): The Pilot Free Commerce Zone (FTZ) in Chongqing Municipality in southwest China has seen a rise in market entity registrations in previously 4 years, rising industries accounting for the lion’s share, in accordance with the municipal commerce fee.
Greater than 50,000 companies have been established within the pilot Chongqing FTA since its inception in 2017, Zhang Zhikui, director of the municipal commerce fee, stated at a press briefing on Wednesday.
Greater than 75% of newly registered firms are engaged in transportation, data transmission, laptop software program and providers, and high-tech industries, Zhang added.
The Chongqing pilot free zone is now house to 1 / 4 of the municipality’s international commerce enterprises, contributing round 70% of its international commerce quantity and attracting greater than 40% of international direct funding.
The municipality was permitted in February as an entry level for imported medication. It’s the solely port of entry of this sort in western China and the fourth on the Chinese language mainland after Beijing, Shanghai and Guangzhou.
It was additionally added to an inventory of China’s border ports, permitting eligible worldwide vacationers in transit to take pleasure in a visa-free 144-hour keep in 2019.