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China (Jiangsu) Pilot Free Trade Zone Launched
updated on:2019-09-05 08:07

On the morning of August 30, the launching ceremony of China (Jiangsu) Pilot Free Trade Zone (FTZ) was held in Nanjing Jiangbei New Area. Secretary Lou Qinjian of the CPC Jiangsu Provincial Committee and Governor Wu Zhenglong of Jiangsu Provincial People’s Government jointly unveiled the names of the Pilot FTZ and its subzones in Nanjing, Suzhou and Lianyungang. Secretary Lou addressed the ceremony while Governor Wu read out the State Council’s approval for the establishment of the China (Jiangsu) Pilot FTZ.

In his speech, Lou pointed out that the establishment of the China (Jiangsu) Pilot FTZ was a major decision made by the CPC Central Committee and the State Council. We must take Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as guide, carry out tasks with high standards and quality in accordance with the requirements of the central leadership, and conscientiously build the FTZ into a new hub of reform and opening-up in the new era and a new platform for serving national development, so as to make glorious achievements worthy of the new era.

Lou emphasized that, to promote development of the FTZ, we should first highlight its characteristics and focus on forming unique competitive advantages of Jiangsu FTZ. Second, we should deepen reform and fully demonstrate the exploratory and leading role of the FTZ in finding new ways for Jiangsu’s development. Third, we should seek practical results and promote FTZ development with real achievements.

According to the Master Plan for China (Jiangsu) Pilot FTZ issued by the State Council, the FTZ consists of three subzones in Nanjing, Suzhou and Lianyungang, with a total area of 119.97 square kilometers. The Nanjing subzone will build a pilot area of indigenous innovation with international influence, a modern industrial demonstration zone and an important platform for open international cooperation. The Suzhou subzone will build a world-class high-tech industrial park, creating a hub for all-dimensional opening up, international innovation, high-end industries and modern governance. The Lianyungang subzone will build an important international transportation hub in Eurasia, an open gateway that gathers high-quality factors of production, and a platform for exchange and cooperation among countries (regions) along the routes of the Belt and Road.

After the inauguration, a number of contracts were signed. The administrations of Shanghai, Jiangsu and Zhejiang Pilot FTZs signed the Framework Agreement on Strategic Cooperation for Interconnected Development of Shanghai, Jiangsu and Zhejiang Pilot Free Trade Zones. Jiangsu Provincial Department of Commerce and the Research Institute of the Ministry of Commerce signed a cooperation agreement on promoting joint FTZ research by think tanks. At the same time, 12 key projects in Nanjing, Suzhou and Lianyungang subzones were also signed. 

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