New policies issued to support Anhui Free Trade Zone, RCEP
Hefei International Talent City provides one-stop services. [Photo/gxq.hefei.gov.cn]
The RCEP Enterprise Innovation Service Center in the Hefei High-tech Zone. [Photo/gxq.hefei.gov.cn]
Hefei city – capital of East China's Anhui province – recently issued 10 innovative policies to support the development of the China (Anhui) Pilot Free Trade Zone, or Anhui FTZ.
It also launched an action plan for the efficient implementation of the Regional Comprehensive Economic Partnership or RCEP in the Hefei High-tech Zone, to seize the opportunities brought about by the initiative.
RCEP is a giant trading pact between Asia-Pacific countries – including China and many of its neighbors – which came into force at the start of the year and which is expected to see tariffs either being substantially reduced or going to zero between members.
The 10 innovative policies aim to support the development of the Anhui FTZ, covering the construction of the zone, the commercialization of scientific and technological achievements and the optimization of the business environment.
In terms of the latter, enterprises are being allowed to use a credit information report instead of administrative compliance certificates in related fields, when submitting stock exchange listings materials.
Under the action plan, the Hefei High-tech Zone will push to achieve an annual import and export volume worth $3.5 billion with RCEP countries by 2025, accounting for 40 percent of the total import and export volume of the region.
Plans are for the zone to build three RCEP demonstration zones for international commerce and trade, industrial cooperation and financial cooperation – and a high-level innovation services platform – to provide various services.