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Xiamen FTZ introduces 562 innovative measures in 9 years

Updated: Apr 30, 2024 Print
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xmftz0422 1.jpgAn aerial view of the Xiamen Free Trade Zone. [Photo/Xiamen Daily]

Since its establishment on April 21, 2015, the Xiamen Free Trade Zone has introduced a total of 562 innovative measures, of which 142 were national firsts. Five of its cases have become the best practice examples for other national FTZs.

The State Council has selected 31 of the zone's reform and innovation measures as part of the 167 reform pilot experiences to be replicated and promoted nationwide, making it a pioneering test ground for reform.

To accelerate the construction of a modern industrial system, Xiamen FTZ has promoted the landing of new formats and models in order to facilitate the formation of new quality productive forces through institutional innovation.

Over the last nine years, the zone has focused on creating 22 innovative development platforms, including aviation maintenance, financial leasing, and China-Europe freight trains. Additionally, the proportion of the zone's emerging industries now exceeds 60 percent of the regional GDP.

By continuously optimizing the "innovation + digital + platform + industry" development model, the zone has enhanced the international competitiveness and cooperation capabilities of its high-end industries.

From its establishment to 2023, the added value of Xiamen FTZ's main industries has grown at an average annual rate of 13.9 percent. The zone has also seen the addition of 43,220 new enterprises, with a total registered capital of 663.02 billion yuan ($91.5 billion).

By leveraging the advantages of being a pilot free trade zone, the Xiamen area has focused on creating a market-oriented and internationalized business environment. Today, the Maritime Silk Road Central Legal District FTZ Pilot Zone has become a symbol of Xiamen.

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