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Qingdao FTZ earns benchmark zone for 4 years

Updated: Jan 16, 2025 chinadaily.com.cn Print
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The 2025 Urban Innovation Development and International Cooperation Conference, held on Jan 7 in Shenzhen city, Southern China's Guangdong province, honored the Qingdao Free Trade Zone with the title of "2024 Benchmark Zone for International Business Environment Development in China". This marks the fourth consecutive year the Qingdao FTZ has earned this honor, highlighting its significant achievements in optimizing business environment.

The Qingdao FTZ has focused on fostering a world-class business climate based on "marketization, rule of law, and internationalization". It has enhanced resource availability with flexible land transfer policies and a 100-million-yuan ($13.64 million) "Free Trade Loan Support" fund. Additionally, it streamlined services, making export tax rebate processing 85 percent faster and business registration reviews 75 percent faster.

Innovative strategies, such as digital platforms and law enforcement, have boosted administrative efficiency. The country's first maritime court trial zone has already facilitated over 1,000 maritime cases, while an integrated approval model for shipping companies improved efficiency by more than 30 percent.

In 2024, the zone introduced 32 high-quality institutional innovations, two of which were nationally recognized as being "Best Practice Cases". The zone has also nurtured trillion-yuan industrial parks, attracted over 50,000 market entities, and generated 117,600 new jobs. This remarkable progress reinforces the zone's leadership in business environment optimization.

 

 

 

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