Free commerce areas working to advertise the twin circulation paradigm

China’s high-level opening up has accelerated in recent times, with 21 free commerce zones having been established up to now, underscoring their function as a proving floor for politics.

These zones have performed a significant function in selling modern achievements in particular fields or nationwide, and they’re going to assist facilitate China’s dual-circulation economic system, wherein home and international markets will strengthen one another. , the interior market being the mainstay. .

Yiwu, a metropolis within the japanese province of Zhejiang which has been dubbed “the grocery store of the world”, is one such free zone, bringing new impetus to the expansion of China’s international commerce. In September, it turned a part of the China Pilot Free Commerce Zone (Zhejiang).

Because the impetus for the Yiwu Free Zone’s purpose of handy transportation, the Yiwu-Xinjiang-Europe Freight Practice, one of many many China-Europe specific companies, has been a robust driving power for the soundness of world industrial and provide chains, favoring China’s twin circulation. mannequin.

With the COVID-19 pandemic having considerably affected sea and air transport capability, China-Europe freight rail companies have performed an vital function in stabilizing worldwide rail logistics.

Their stability and weatherproof traits ensured the sleek transport of products, together with epidemic management gear. To satisfy rising demand, service operators have been working time beyond regulation, even in the course of the Spring Competition holidays.

Lin Huihuan, common supervisor of a logistics firm in Yiwu, stated, “ In earlier years, the Spring Competition holidays noticed just a few Yiwu-Xinjiang-Europe freight practice companies carrying cargo that remained earlier than holidays. Nonetheless, this 12 months’s vacation noticed extra new cargo being transported each day. My firm alone ready sufficient items to be transported by 5 Yiwu-Xinjiang-Europe freight trains.

The town’s freight companies carried out brilliantly final 12 months: the variety of routes in service elevated to 14; and 974 freight trains left the town, transport 80,392 20-foot equal unit containers, a 90.2 p.c year-over-year improve.

In an additional growth, the large potential created by the Yiwu FTA has inspired an rising variety of international businessmen to start out operations within the metropolis.

To facilitate their adaptation to native life and play a job within the metropolis’s growth, the Yiwu authorities opened Jincheng Worldwide House, the primary immigration service middle in Zhejiang, in June. Situated close to the Yiwu Worldwide Commerce Market, the power offers expats with companies equivalent to immigration coverage clarification, visa expiration reminders, e-government recommendation, and dispute decision.

“I can communicate to my visitors in Mandarin now, they usually all say my Mandarin is a lot better than earlier than,” stated a international businessman who got here to Yiwu 4 years in the past and lives in the neighborhood. of Jincheng. He nonetheless participates within the Chinese language language honest organized by Jincheng Worldwide House and has made nice progress.

Music Li, director of Yiwu Exit and Entry Administration Bureau, stated, “ As Yiwu strives to facilitate the development of the free zone, the town will introduce extra international enterprises sooner or later and high-end skills overseas, whereas organizations and establishments serving expatriates. can even be regularly applied, tremendously optimizing Yiwu’s enterprise atmosphere ”.

Final 12 months, the worth of the Yiwu free zone’s renminbi cross-border settlements reached 18.5 billion yuan ($ 2.8 billion), a rise of 115 p.c year-on-year, in keeping with a report launched by the realm on the finish of final month.

The report says 5,178 new companies had been added to the realm from September to December, a rise of 268% from the primary eight months of final 12 months.
Supply: Central Individuals’s Authorities of the Individuals’s Republic of China