The Dream Factory of China

Source :Qianhai Communication Center

Qianhai was ranked the first among the country’s 43 free trade zones and areas in last year’s government function transformation assessment, one of the first-level indicators used for institutional innovation index compiled by the Institute of Free Trade Zones of Sun Yat-sen University.

Following the Shanghai free trade zone and Nansha, Qianhai was ranked the third in the index report released July 23. Both Qianhai and Nansha are part of the China (Guangdong) Pilot Free Trade Zone.

According to Fu Zhengping, dean of the Institute of Free Trade Zones, the index has been compiled on the basis of five first-level indicators, 19 second-level indicators and 57 third-level indicators.

Qianhai outperformed other free trade zones and areas in the government function transformation indicator of the first level, and was ranked second in investment facilitation, financial management and service innovation, and the rule-of-law environment, the other three of the five first-level indicators. Qianhai was ranked third in trade facilitation, the last indicator of the first level.

The institute has collected a variety of data and materials from the authorities of the free trade zones, and studied the research reports by universities and related think tanks for compiling the index. The index is also based on the field studies of the country’s free trade zones as well as other studies that the institute has conducted.

Fu attributed Qianhai’s high ranking to its continuous opening up and reform measures.

Qianhai has applied advanced technologies such as big data, cloud computing, 5G network, and artificial intelligence in its efforts to boost its economic development and to create a world-class business environment.