The National Free Trade Area Innovation Alliance, which was inaugurated in Qianhai in April 2019, welcomed 17 new members at an online conference at the Smart Qianhai Management Operation Center yesterday morning, bringing the total number of its members to 47.
Tian Fu, member of the standing committee of the municipal committee of the CPC and director of the Authority of China (Guangdong) Pilot Free Trade Zone Qianhai and Shekou Area, other senior officials with the Qianhai authority and representatives of the authority of 42 free trade area across China and think tanks serving the innovation alliance attended the online conference.
The innovation alliance has been designed to serve as a connection platform for free trade zones and areas across the country to share innovation achievements and strengthen communications during the deepening of economic reform and opening-up.
The alliance, which had only 18 members when it was inaugurated a year ago, has become one of the largest and most important communication platforms among China’s free trade zones.
The alliance has created a coordination platform on which innovation achievements, policies facilitating trade, some case studies and projects have been shared. A total of 65 cases on institutional innovations have been voted out by Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce and nine other think tanks that serve the innovation alliance. Among the 65 cases, eight were first put forward in Qianhai, topping the country’s free trade zones and areas.
In addition to cooperation on innovations among the member free trade zones and areas, the alliance has also been aimed at encouraging cooperation on other issues and aspects, such as industrial restructuring, the Belt and Road Initiative development and the construction of a credit-based economy, Tian Fu said.
At the online conference, the Free Trade Zone Research Institute of Xiamen University, the law school of Jilin University and the research institute of China (Sichuan) Free Trade Zone of Southwest University of Economics became the latest members of the alliance’s think tank service platform, taking the total number to 14.
The think tank service platform was set up in July last year, aiming to serve as a bridge in facilitating communications between enterprises and governments in the free trade zones, as well as conduct innovation research and assessment on the institutional innovations rolled out in the free trade zones and areas.
China Merchants Port Group Co. Ltd. and 19 other enterprises have been chosen from more than 100,000 companies in Qianhai by the Qianhai authority as Qianhai’s partner enterprises to service other inland free trade zones. The 20 enterprises will make use of their expertise and economic strength to help push forward the development in their related fields in other inland free trade zones.
According to Wang Jinxia, vice director of the Qianhai cooperation zone authority, Qianhai enterprises designated to help inland free trade zones have invested 42 billion yuan (US$5.92 billion) in the inland free trade zones which they have been designated to service.
Wang said Qianhai-registered enterprises have set up more than 56,000 companies in other inland free trade zones by the end of last year, while 11,000 enterprises have also been set up in Qianhai by companies in other inland provinces.
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