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China (Dalian) Pilot Free Trade Zone Continues to Release Innovative Dividends

In the past year since Dalian Pilot Free Trade Zoneunveiled its nameplate, 134 institutional innovations have been created, amongwhich 7 are carried out for the first time in China, and 6920 enterprises arenewly registered with registered capital of nearly 93 billion CNY.

Since Dalian Pilot Free Trade Zone unveiled its nameplateon April 10 last year, with reforms and innovations in investment, trade,finance and change of government functions as its acting points, the Zone hasmade bold and independent efforts to not only replicate the achievements of thefirst two batches of pilot free trade zones which are considered as its “compulsoryexercise” but also launch a number of institutional innovation achievementswith Dalian’s characteristics and has left remarkable effects in the camp ofpilot free trade zones in China. The framework of free trade system has beenestablished preliminarily, and dividends of institutional innovation have beenreleased continuously. According to the development orientation regulated in Measure for Management of China (Dalian)Pilot Free Trade Zone, in the past year, Dalian Pilot Free Trade Zoneactively replicated the successful experiences of Shanghai Pilot Free TradeZone on the one hand, and changed government functions in combination of Dalian’sreality and create an internationally first-class legal business environment onthe other hand.

Up till now, Dalian Pilot Free Trade Zone has replicatedand promoted 166 reform and innovation experiences of the first two batches ofpilot free trade zones, completed 97 tasks determined in the general planaccounting for 82% of the total amount, introduced 225 policy measures tosupport the development of the Zone, and formed 134 institutional innovationachievements, 20 out of which are now being accepted by the whole province andeven the whole country. Among these 20 achievements, 7 national innovation resultssuch as “customs classification intelligent guidance system” have been reportedto the Ministry of Commerce to be replicated and promoted as the best case inthe country, which has left a bright “Dalian Mark” in the camp of pilot freetrade zones in China.

In order to meet the needs of the building of the PilotFree Trade Zone, Dalian Municipal Government has accelerated thedecentralization of power to the Zone, eliminated and adjusted 1626 items ofmunicipal administrative examination and approval, and made and published thelist of rights and responsibilities of various departments of the municipalgovernment, and simplified more than 46% items. At the same time, a series ofrules and regulations such as Measure forManagement of China (Dalian) Pilot Free Trade Zone were issued, whichimproved the legal service system and created a fair and transparent legalenvironment.

Today, this rising highland of innovation has released ahuge policy dividend. In 2017, the total value of output of industrialenterprises above designated size of Dalian Pilot Free Trade Zone was 54.3billion CNY, its total import-export value was 146.1 billion CNY, its totalfixed asset investment was 25.1 billion CNY, its foreign investment in actualuse was 1.98 billion USD, its container throughput accounted for 50% of thewhole province, and its number of China-Europe trains accounted for 40% of thewhole province. In the past year, 6920 enterprises were newly registered in theZone with registered capital of 92.999 billion CNY.

Source of information:Liaoning Daily