Innovation key word for Xiamen Area's high-quality development | investinchina.chinadaily.com.cn
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Innovation key word for Xiamen Area's high-quality development

  • chinadaily.com.cn |
  • Updated: Sept 07, 2022

He Dongning, Party secretary and director of the Xiamen Area of the China (Fujian) Pilot Free Trade Zone in Xiamen, East China's Fujian province, said in an exclusive interview that the area has made remarkable achievements since its establishment in 2015.

He stated that over the past seven years, the Xiamen Area has taken advantage of its close location to Taiwan, focused on encouraging institutional innovation, and implemented a new round of pilot reforms to advance high-level opening-up and the high-quality development of the China (Fujian) Pilot Free Trade Zone.

According to official data, a total of 521 innovative measures have been implemented since the area's establishment in 2015, among which 126 were pioneered in the area, accounting for 51.2 percent of the province's total number, and 30 were promoted and replicated nationwide, which was 21 percent of the national total. Five cases have been selected as the best practice cases for national pilot free trade zones.

According to a report of the Institute of Free Trade Zones released by Sun Yat-sen University, the Xiamen Area's institutional innovation index was ranked fifth among the 67 free trade zones across the country.

The area has also taken the lead in opening up to Taiwan in more than 50 sectors, including securities and seafarers, and has implemented some major changes. The Cross-Straits Youth Innovation, Entrepreneurship and Maker Base was the first to be formed in the region and the first in the country to permit residents of Taiwan to apply for the Mainland Travel Permit for Taiwan Residents in order to register a business on the Chinese mainland.

Efforts have also been made to create a world-class business environment, aiming to promote Xiamen as a national model city for its business environment.

The Xiamen Area has identified the growth of the aviation maintenance sector as a crucial tool for boosting the competitiveness of global high-end businesses and securing a position in the market for aircraft maintenance. According to He, a total of 14 essential platforms for aviation maintenance have been constructed, and as of right now, the Xiamen Area has established a significant domestic "one-stop" aircraft maintenance base.

According to official data, the regional GDP of the Xiamen Area of the China (Fujian) Pilot Free Trade Zone has increased from 38.53 billion yuan ($5.57 billion) to 88.04 billion yuan in the past seven years, an increase of 1.3 times, and the added value of major industries reported an average annual growth rate of 14.8 percent. The fiscal revenue has increased from 6.02 billion yuan to 13.13 billion yuan in the past seven years, increasing by 1.2 times, with an average annual growth rate of 13.9 percent.

He noted that the establishment of the BRICS innovation base and the integration of cross-Straits development are only two examples of how the Xiamen Area will continue to be committed to institutional innovation and advance sound and stable development. In order to establish itself as a leader of the high-quality growth in China's pilot Free trade zones, efforts are expected to be made to encourage easy "dual circulation" - domestic circulation and international circulation that strengthen one another.

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