Fu­jian eyes more trade with Tai­wan

China Daily (Latin America Weekly) - - Top News - By REN XIAOJIN renx­i­ao­[email protected]­nadaily.com.cn

The Fu­jian Pilot Free Trade Zone looks for­ward to build­ing stronger busi­ness ties with its neigh­bor Tai­wan and other in­vestors by fur­ther fa­cil­i­tat­ing trade, us­ing the neg­a­tive list and en­hanc­ing co­op­er­a­tion in the ser­vice in­dus­try.

Ac­cord­ing to the State Coun­cil’s an­nounce­ment on deep­en­ing FTZ re­form this month, Fu­jian will fur­ther en­hance fi­nan­cial co­op­er­a­tion with Tai­wan, in­clud­ing in cur­rency clear­ing and set­tle­ment and al­low­ing qual­i­fied Tai­wan in­sur­ance in­sti­tu­tions to set up branches in the FTZ.

Since its be­gin­ning in 2014, the Fu­jian FTZ has fo­cused on build­ing strong trade ties with Tai­wan.

“After three years of hard work, the Ping­tan district has gen­er­ally im­ple­mented the neg­a­tive list sys­tem,” Lin Li, as­sis­tant direc­tor of FTZ of­fice in the Ping­tan district of the provin­cial FTZ. A neg­a­tive list names in­dus­tries in which in­vest­ment is lim­ited or re­stricted.

“The trade su­per­vi­sion sys­tem is made to serve trade fa­cil­i­ta­tion and the fi­nan­cial sys­tem is made to serve the real econ­omy,” Lin said.

Chen Xiangquan, gen­eral man­ager of the Ping­tan branch of Tai­wan lo­gis­tic com­pany Wagon, said the fa­cil­i­ta­tion mea­sures have ben­e­fit­ted the com­pany.

“Only Ping­tan can is­sue a spe­cial busi­ness li­cense. What you need to do is to reg­is­ter on­line, and the reg­is­tra­tion can be done in a few hours,” he said.

“The cap­i­tal mar­ket in Tai­wan started ear­lier, and is ma­ture. If the two sides can work to­gether, there will be po­ten­tial for a win-win sit­u­a­tion,” Shi Ming­hao, former chair­man of Trade­van, which pro­vides clear­ance and cross­bor­der elec­tronic trans­ac­tion ser­vices, told lo­cal TV news sta­tion Xi­a­men Star. “I think in the ser­vices in­dus­try, more Tai­wan com­pa­nies will show up in Xi­a­men.”

As of the end of Septem­ber, 2,185 com­pa­nies from Tai­wan had reg­is­tered in the Fu­jian FTZ, bring­ing a to­tal in­vest­ment of $6 bil­lion.

The cross-bor­der e-com­merce in­dus­trial park was also the high­light of the Fu­jian FTZ. Ac­cord­ing to Fuzhou Bonded Area, it con­tains a cross-bor­der e-com­merce in­dus­trial park, home to a num­ber of es­tab­lished e-com­merce com­pa­nies such as eBay, Alibaba and Cainiao.

In 2017, the area im­ported 640,700 or­ders of bonded goods through cross-bor­der e-com­merce mer­chants, up 136.7 per­cent year-on-year. The sale of the goods net­ted 210 mil­lion yuan ($30 mil­lion), up 124 per­cent year-on-year.

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