In the first five months, 69,177 enterprises have been set up in the pilot free trade zones (FTZs) of Shanghai, Guangdong, Tianjin and Fujian. The pilot tasks have been rolled out in the four pilot FTZs, with more than 90% of the general plan implemented, said Shen Danyang, spokesman of the Ministry of Commerce on August 2, 2016.

 

The data of the Ministry of Commerce shows that in the first five months, the four pilot FTZs have set up 69,177 enterprises, including 65,117 domestic-funded enterprises, with registered capital of RMB1952 billion, 4,060 foreign-funded enterprises with the contractual foreign investment of RMB308.6 billion, and 4,030 foreign-funded enterprises which have been newly registered, with the contractual foreign investment of RMB308.4 billion, accounting for 99.3％ and 99.9％, respectively.

 

The four pilot FTZs have steadily advanced the financial opening-up and innovation measures for improving the quality and level of serving the real economy, said Shen. Shanghai Pilot Free Trade Zone free trade account pilot has expanded from RMB to foreign currencies; Guangdong, Tianjin and Fujian pilot FTZs promoted the loan risk compensation for micro-, small- and medium-sized enterprises, “banking-taxation interaction” loan guarantee exemption for micro- and small enterprises of integrity and other measures to facilitate the public entrepreneurship and innovation.

 

Source: Translated from Invest Guangzhou, August 3, 2016