Southwest China's Guizhou province recently issued 15 measures to support the high-level opening up and high-quality development of its free trade zones.
Guizhou's free trade zones will strive to have an import and export value of 42 billion yuan ($6 billion), with a total actual use of foreign capital of $47 million in 2023.
The free trade zones will strive to have an import and export value of 80 billion yuan, with a total actual use of foreign capital of $100 million by 2025.
The measures cover six areas: free trade zone functions, supervision modes, new business cultivation, finance and talent support, industrial park investment promotion, as well as management mechanisms.
They require Guiyang Free Trade Zone, Guian Free Trade Zone, and Zunyi Free Trade Zone to accelerate differentiated development. Guiyang Free Trade Zone will be supported to rely on the resources of Guiyang International Dry Port to build an import goods distribution center and an export product aggregation center.
The measures also detail provisions on improving customs clearance efficiency, promoting the integration of domestic and foreign trade, exploring the development model of "cross-border e-commerce + foreign trade comprehensive services", as well as supporting the development of commodity trading and bonded processing operations.