A new regional giant for the modern service industry has taken shape in the Free Trade Zone (FTZ) of Zhangjiagang's Jingang town, Jiangsu province, with integration of modern logistics, supply chain financing and electronic commerce.

As of October 2014, the input of the service sector reached 5.25 billion yuan ($854.89 million), up 5.9 percent in comparison with last year. The productive service industry cost investment of 2.44 billion yuan, up 12.3 percent from last year.

As a distribution hub for chemicals, textile materials, timber, grain and oil, the FTZ is also the only port for completely built-up (CBU) vehicles import in Jiangsu. It held the first Zhangjiagang Auto Exhibition in July 2014, attracting 120 companies, including Changjiu Logistics, to set up branches in the zone. Since February 2013, the port has imported 28,000 vehicles, and it aims to form a high-end imported vehicle industrial chain in five to eight years, with annual vehicle imports of 100,000 units and exports of 200,000 units.

At the same time, trade platforms for jewelry, milk powder, mother and baby products, and frozen meat are also making steady progress.

The aggregate value of commodities entering and leaving the Zhangjiagang FTZ totals 350 billion yuan each year. To lure more valuable commodities for trade settlement, the FTZ upgraded its financing services. It also set up a commodity trade and clearance center and a regional settlement center for Chow Tai Fook Jewelry Group Ltd, a leading jeweler in the Chinese mainland, Hong Kong and Macau.

In addition to support from Belgium Diamond House (Antwerp) and Diamond China, Guangdong-based Goldleaf Jewelry and Shenzhen-based Batar Group, as well as some other companies, are also considering opening settlement centers in the area.