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7 years on: Xi'an area of Shaanxi FTZ pushes ahead

Updated: Apr 3, 2024 Print
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The China (Shaanxi) Pilot Free Trade Zone (FTZ) celebrated its 7th anniversary on April 1. Since its establishment, it has both served and integrated into the national development strategy.

The Xi'an area of the Shaanxi FTZ has successfully implemented 127 reform pilot tasks over the last seven years, resulting in a total of 686 innovative cases. Of these cases, 39 have received recognition from the State Council and relevant ministries, and 88 have been replicated and promoted throughout Shaanxi province.

The Shaanxi FTZ celebrates its 7th anniversary on April 1. [Photo/Xi'an news network]

The Xi'an area of the Shaanxi FTZ has made significant strides in promoting openness and innovation, particularly in trade and finance.

Its efforts have led to a 2-3 day reduction in clearance time for enterprises involved in exports, as well as the launch of the country's first "cloud-based processing trade declaration system". This system has resulted in a more than 50-percent reduction in clearance time.

The area's Xi'an Port was the first inland port to implement a pilot qualification for export tax rebates. Additionally, the Kazakhstan Xi'an Terminal, also located in the area, was officially put into operation this year, effectively promoting economic and trade exchanges between China and Kazakhstan.

From its establishment to February of this year, the Xi'an area of the Shaanxi FTZ has seen the addition of 214,833 market entities, including 1,015 foreign-invested enterprises and 1,151 enterprises with registered capital exceeding 100 million yuan ($13.82 millio).

The Xi'an area of the Shaanxi FTZ has set up the first provincial-level RCEP enterprise service center in Northwest China, enhancing the level of service-oriented and open economic development. Initiatives like this have significantly improved the area's government service efficiency.

Meanwhile, the area will continue to improve its talent development system, promote the operation of China-Europe freight trains (Xi'an), and strengthen its international cooperation capacity.

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