FTZ offers amenities to new business

Zhao Ruochen, a businessman selling imported food in Chengdu, Sichuan province, is very happy recently, thanks to the central government's approval for Sichuan to build a free trade zone in late August.

"The free trade zone is expected to make logistics and customs clearance faster, and bring more international partners to us," Zhao said.

According to the central government, establishing the free trade zone in Sichuan is intended to open up southwestern cities and inland areas, to balance the inland area's development with that of the coastal, border and riverside regions.

This move is expected to benefit tens of thousands of entrepreneurs like Zhao.

Sheng Yi, vice-director of the Sichuan Academy of Social Sciences, said establishing a free trade zone in the Southwest represents the central government's intentions to implement a new model of opening-up.

The inland areas' opening-up will hopefully intensify its competition with the coastal region.

Chengdu officials are confident that the founding of the free trade zone in Sichuan will boost Chengdu's value on the international stage.

They believe the zone will assist Chengdu in its pursuit of a reputation as a national center city, a world-famous cultural hub and an international metropolis.

In its application to set up the free trade zone in Sichuan, the provincial government proposed more than 160 reforms in eight key fields, such as trade, investment, international industrial cooperation and finance.

Moreover, Chengdu borrowed from other cities' experience in implementing eight successful reform cases in their free trade zones, long before Sichuan submitted its application to the central authority.

Officials in the Chengdu commerce department believe the city can better take advantage of its geographical position as trade corridor in southwest China after the establishment of the free trade zone. They expect the Sichuan free trade zone's influence on economy and trade will penetrate further into the Eurasian continent within three to five years.

Xu Wen, PwC's business supervisor in Chengdu, said: "I hope the Chengdu government will take the free trade zone construction as an opportunity to strengthen government reform and create a more international, market-oriented and rule-of-law business environment for foreign investors and local enterprises alike."

He is optimistic that the free trade zone will create more jobs for locals and bring tangible benefits to local residents in tourism as well.

liyang@chinadaily.com.cn

(China Daily 09/28/2016 page26)