Tianjin gets the nod for new-area plan
By Liu Jie (China Daily)
Updated: 2006-06-07 08:45
The Binhai New Area, which covers nearly 2,300 square kilometres,
will be turned into a gateway to North China, a modern manufacturing and
research base and an international shipping and logistics centre, he
said.
A series of experimental schemes will be launched in Binhai,
according to the State Council announcement, including financial
initiatives, land administration methods, a bonded area and preferential
tax policies.
The government will allow Binhai to pilot key reforms
related to financial services and the capital market, and to be more open
to international business development. Experimental schemes may also cover areas
of venture capital, foreign exchange administration and offshore
banking.
The reform in land administration will focus on efficient use of
available resources. Tianjin Dongjiang Bonded Area will be set up in the new
area with an emphasis on international distribution, global procurement and
export processing.
The development of the bonded area
will be open to international partners, the announcement
indicated.
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