Tianjin FTZ to Be More Reforming and to Open-up More

The China (Tianjin) Pilot Free Trade Zone will achieve higher level open platforms for drivers of innovation and the integration of international pace.

Since being established in 2015 by central government, the China (Tianjin) Pilot Free Trade Zone, the first of its kind in northern China, has been committed to serving as a test field for institutional innovation and meeting the essential requirements of replicability and reproduction.

The pioneering area for reform and opening-up has tested a total of 487 innovative policies and measures, of which 38 have been reproduced nationwide.

The first half of the year has witnessed an upsurge of 6,707 market entities in the zone, an increase of 34.9 percent.

In 2020, the zone, which takes 1 percent of Tianjin’s land area, contributed almost 15 percent of its total tax revenue, 46 percent of its actual use of foreign capital, and 1/3 of its export value.

It now leads the country in industries such as finance leasing, business, aircraft manufacturing and maintenance, and vehicle trade. Other industries, like Biomedicine and cross boarder e-commerce, are also advancing swiftly.

The zone has had new difficulties and challenges to face. International economic and trade rules are undergoing profound and complex changes, and the international industrial chain, supply chain, value chain and distribution network are being restructured.

The zone will expand its pilot scope to test more innovative moves across more application areas.

It will coordinate efforts with other areas, such as Binhai Hi-tech Area and Sino-Singapore Tianjin Eco-city, both in the municipality’s Binhai New Area, to promote the reproduction of its successful tries and cases.

To meet revolving international business rules, the zone will join hands with the areas to create new pilots in fields such as bone research and green finance.

Binhai High-tech Area will roll out 18 measures including policies, industry, technology, talents and opening up.