Xi'an rolls out measures to boost Shaanxi FTZ's development

Xi'an, capital of Northwest China's Shaanxi province, has recently rolled out a promotion strategy for the Xi'an area of the China (Shaanxi) Pilot Free Trade Zone (FTZ) and the measures to deepen the pilot cooperation on opening-up and cooperation in foreign Trade benchmarking RCEP in the Xi'an Area of Shaanxi FTZ.

The promotion strategy proposes 20 measures in seven areas, including expanding institutional opening-up, accelerating the development of modern industries, focusing on the construction of the Belt and Road Initiative, and strengthening coordinated development.

These measures will improve opening-up, promote high-quality development, enhance the business environment, and drive innovation.

The measures to deepen the pilot cooperation on opening-up and cooperation in foreign trade propose 19 specific measures in six areas, including improving one-stop comprehensive services, promoting platform construction, carrying out innovation in trade formats, leveraging the role of financial services, and creating a favorable open environment.

By effectively utilizing tariff concessions and preferential rules of origin, businesses can share the benefits of RCEP.

Moving forward, the Xi'an area of the Shaanxi FTZ will deepen cooperation with RCEP member countries and steadily expand institutional opening-up regarding rules, regulations, and management, thus promoting the high-quality development of the open economy in the city.