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China (Guangdong) Pilot Free Trade Zone

2019-01-07 14:43:50
source:Official website

China (Guangdong) Pilot Free Trade Zone (hereafter referred to as GDFTZ) was formally approved by the State Council and established on 31 December, 2014.

Scope for development:  The total area of GDFTZ is expected to be about 116.2 squre kilometers and covers three areas: Nansha Area of Guangzhou, measuring 60 squre kilometers and including 7.06 square kiometers of Guangzhou’s Nansha Bonded Port Area; Qianhai & Shekou Area of Shenzhen, measuring 28.2 km² square kilometers and incuding  3.71 square kilometers of Shenzhen’s Qianhai Bay Bonded Port Area, and Hengqin Area of Zhuhai, which is  about 28 squre kilometers.

Strategic Positioning: With Hong Kong and Macao giving support, the mainland providing market and the outside world offering a broad vision, GDFTZ is to become an demonstrarive area for deep collaboration between Guangdong, Hong Kong and Macao, a crucial hub of 21st century's Maritime Silk Road and a pilot area for next round of economic reforms nationwide.

Development goals: Through three to five years of experimental reforms, GDFTZ will establish a market-oriented and internationalized business environment with conformity to the law, showcase a new open economic system, realize deep economic integration between Guangdong, Hong Kong and Macau, and build a new competitive edge in international economic cooperation; finally, it is hoped that the zone will, with conformity to the law, reach high international standards, facilitate investment and trade, create driving force in the concerned  areas and make safe yet highly efficient regulations at the same time.

Division of Functions: 
Nansha Area of Guangzhou will prioritize shipping logistics, special finance, international trade, high-end manufacturing and other industries, with the hope of emerging as a new modern industrial base with manufacturing service industry as the focus, and a world-leading comprehensive service hub.

Qianhai & Shekou Area of Shenzhen will prioritize finance, modern logistics, information services, science and technology services and other strategic emerging service industries, with the hope that it might become an experimental window to the world for China's financial industry and a significant base for global service trade as well as an international hub port.

Hengqin Area of Zhuhai will prioritize tourism, leisure and health, business financial services, culture, science, education and high tech, and other industries, so that it might grow into an area focusing on culture and education, a leisure and recreation base for international commercial services, and a new carrier that promotes appropriate and diversified economic development in Macao.