Shaanxi FTZ pushes ahead with greater reform, innovation

The Information Office of the Shaanxi Provincial Government held a news conference on April 9 to honor the reform and innovation achievements of the China (Shaanxi) Pilot Free Trade Zone (FTZ), on the third anniversary of its construction.

Shaanxi FTZ was established on April 1, 2017. During the past three years, it has presided over a series of innovative achievements that have optimized its business environment, strengthened the integration of its systems innovations and fast tracked the location there of export-oriented industries.

Officials said it has completed a total of 370 innovation cases, of which 16 were replicated and promoted nationwide. Moreover, the FTZ has been praised by the State Council and ministries and 53 of its reforms and innovation achievements were replicated and promoted throughout the province.

A total of 57,853 new market entities had been added to Shaanxi FTZ as the end of 2019, including 38,588 companies with a registered capital of 707.11 billion yuan ($100.56 billion).

Last year, 91 foreign-invested enterprises were newly established in the zone, accounting for 28.17 percent of the province's total newcomers; the actual use of foreign capital amounted to $3.08 billion, accounting for 39.83 percent of the province’s total.

The zone has advanced the reform of the trade supervision system. Throughout 2019, the total value of import and export goods in Shaanxi FTZ hit 247.6 billion yuan, accounting for 71 percent of the province's total.

In addition, it accelerated the construction of an international aviation hub and an international transportation corridor. In 2019, the China-Europe Chang’an freight train made a total of 2,133 trips and transported 1.8 million metric tons of goods -- 1.7 times and 1.5 times that in 2018, respectively.

By the close of 2019, a total of 88 international routes have been opened, linking 74 major cities in 36 countries around the world, while the number of cargo freight routes reached 27, comprising 14 domestic routes and 13 international routes.

In addition, the zone made new progress in economic cooperation and cultural exchanges with countries involved in the Belt and Road Initiative (BRI).

Last year, Shaanxi province invested $189 million in 13 countries and regions involved in the BRI, accounting for 39 percent of the province's total foreign investment.

During the novel coronavirus pneumonia epidemic prevention and control period this year, Shaanxi FTZ also made great efforts to help resident companies return to work and production. Through video conferences, it promoted the implementation of key investment projects.

Shaanxi FTZ next plans to keep learning from the experiences of other FTZs, making more achievements in its commercial operations and in its reform and development.

Officials said it is setting its sights on contributing to the construction of a new highland in the province's inland reform and opening-up process.