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Dalian Area of China (Liaoning) Pilot Free Trade Zone Completes All 119 Tasks

        As Dalian Artworks Bonded Display Center unveiled itscurtain, Dalian Area has completed all the Dalian-relevant 119 tasks out of the123 reform pilot tasks bestowed by the central government upon  Liaoning Pilot Free Trade Zone, reaching 100%completion rate.

        To ensure qualitycompletion of the reform pilot tasks, Dalian Area did great numbers ofinnovative exploration in government administration approach, investment managementinstitution, trade supervision system, financial institution and interim andex-post oversight, summarizing 237 institutional innovations. Evaluated by thethird party organization, Dalian Area worked out 82 innovative cases, amongwhich 66 were reported to the provincial government and 22 were reported to theMinistry of Commerce.

        "Bonded mixed ore" and "whole-processsupervision of imported grains" have been recognized by the State Councilas pilot experience for the reform of pilot free trade zones and promotednationwide. The case practices of "Port of Dalian's exploration of newapproaches to equity integration of domestic container terminals" and"Dalian Bingshan Group's mixed ownership reform" have been awardedthe 3rd national group of "best practice cases", providing firmsupport to Liaoning Pilot Free Trade Zone's task completeness ranking top ofthe third group of free trade zones.

        Geographic andregional advantages have blessed Dalian Area with huge innovative potential.Focused on core elements including ports, international logistics, collectionand distribution system, urban functions, and areas under special customssupervision, Dalian Area rallied ports departments to work together on porteconomy and investment facilitation and deepen reforms, eventually coming upwith 55 trade facilitation initiatives and more than 20 "pioneering"institutional-innovative experience such as "bonded mixed ore","whole-process supervision of imported grains" and "online taxrebate of service trade".

        In terms ofpromoting financial innovation, Dalian Area together with the financial systemof Dalian implemented 16 measures to support the development of the free tradezone, launched 10 policies to facilitate financing of cross-border e-commercebusinesses, and built a new model of "multi-way loan".

        The first"free trade financial service online system" of China went live,exchanging data on e-government platforms with financial platforms; DalianCommodity Exchange launched the bonded delivery business of iron ore futures;Petro China Dalian Bonded Warehouse was approved to be the identified deliverywarehouse for domestic crude oil futures and delivered the first tanker inChina; the banking system launched a new model of "bulk commodity cross-borderfinancing service", built the only professional financing center forshipping and logistics industry in China, and developed supply chain financingservices, diversifying port financing measures.

        As the largestopen port in Northeast China, Dalian Area proactively gets involved in the"Belt and Road" Initiative, in the face of northeast Asia, utilizesregional advantage and institutional innovation todevelop opening-up advantages, pursuing opening up at a higher level and inbroader sectors.