Introduction

China (Guangdong) Pilot Free Trade Zone

02 14, 2015      Source: 

 

China (Guangdong) Pilot Free Trade Zone (hereafter referred to as GDFTZ) was formally approved by the State Council and established on 31 December, 2014.

Scope of Implementation: The scope of implementation for GDFTZ is set at 116.2 km² and covers three areas: Nansha Area of Guangzhou, a 60 km² district (incorporates 7.06 km² of Guangzhou’s Nansha Bonded Port Area); Qianhai & Shekou Area of Shenzhen, a 28.2 km² district (incorporates 3.71 km² of Shenzhen’s Qianhai Bay Bonded Port Area), and Hengqin Area of Zhuhai, a 28 km² district.

Strategic Positioning: Depend on Hong Kong and Macao, serve the mainland and face the world, GDFTZ is to become an demonstrarive area for deep collaboration between Guangdong, Hong Kong and Macao, a crucial hub of 21st century’s maritime silk road and pilot area for next round of economic reforms nationwide.

Development Targets: Through three to five years of experimental reforms, to cultivate a legal, market-oriented and internationalized business environment, establish a new open economic system, realize deep economic integration between Guangdong, Hong Kong and Macau, form a new competitive edge in international economic cooperation, strive to be a pilot free trade zone with legal environment norms in line with high international standards, investment and trade facilitation, exceptional driving force in the area as well as safe and highly efficient regulation.

Division of Functions:
Nansha Area of Guangzhou will prioritize shipping logistics, special finance, international trade, high-end manufacturing and other industries, to be established as a new modern industrial base with manufacturing service industry as the focus, and a world-leading comprehensive service hub.

Qianhai & Shekou Area of Shenzhen will prioritize finance, modern logistics, information services, science and technology services and other strategic emerging service industries, to be established as an experimental window to the world for China’s financial industry and become a significant base for global service trade and a international hub port.

Hengqin Area of Zhuhai will prioritize tourism, leisure and health, business financial services, culture, science, education and high tech, and other industries, to be established as an area of open and leading culture and education, and a leisure and recreation base for international commercial services, as well as create a new carrier that promotes appropriate and diversified economic development in Macao.