Chengdu free trade zone achieves high-quality development

CHENGDU, China, April 1, 2022 /PRNewswire/ -- Report from Chengdu Commerce Bureau:

A major part of the China (Sichuan) Pilot Free Trade Zone, Chengdu's FTZ has entered a new stage of reform.

Founded in 2017, the Sichuan FTZ consists of three parts: the Chengdu FTZ Tianfu New Area, Qingbaijiang railway port area and the South Sichuan Port area in Luzhou.

In line with the innovation tasks of the Sichuan FTZ, the Chengdu FTZ has explored more than 430 innovative institutions. Thirteen of them have been replicated and promoted across the country and 51 have been adopted in Sichuan province. The Chengdu FTZ has been ranked first among its peers in the innovation index of China's FTZs for three years running.

The FTZ has set national standards for the certified export of low-carbon products, development of traditional Chinese medicine and real estate development. Reforms, such as the integrated multidimensional transportation system, have helped Chinese standards align with international rules and norms.

Official data show that, from April 2017 to February 2022, Chengdu's FTZ had more than 183,800 registered businesses, with an investment of more than 1.8 trillion yuan ($283.91 billion). Of them, 1,655 are foreign-funded businesses, contributing an investment of 178.82 billion yuan.

Located at the junction of the Belt and Road Initiative and the Yangtze River Economic Belt, Chengdu has used its location to develop international aviation, railway stops and ports to encourage trade.

Last June, Chengdu Tianfu International Airport was opened, making Chengdu the third city in China to have two international airports. Chengdu Shuangliu International Airport has launched 131 international routes, 15 of them for cargo. Its passenger and cargo volume ranked first in Central China.

In 2021, the Chengdu airport bonded logistics center opened a new type of cross-border e-commerce store to boost the consumption of imported merchandise.

The e-commerce business is based on the FTZ's preferential policies and location advantage, which has nearby warehouses to ensure quick deliveries.

According to local officials, the business has mobilized resources at home and abroad and coordinates online and offline platforms in a bid to offer a superior shopping experience on cross-border e-commerce platforms.

Meanwhile, Chengdu's railway port has opened routes to 69 foreign and 25 domestic cities, boosting the efficiency of international logistics for further opening-up.

With the development of the Chengdu-Chongqing economic circle, FTZs in Sichuan and Chongqing will also have closer cooperation, officials said.

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