Connect with us


More pilot free trade zone reforms experience to be spread across China



More pilot free trade zone reforms experience to be spread across China

China’s State Council has recently issued a circular on the dissemination of the sixth batch of pilot free trade zones reform experience, from the report of Shanghai Securities News on Wednesday.

The pilot reforms to be spread across the country included, 31 reform items of five areas, involving financial opening up, supervision, trade facilitation, investment management and human resources.

Sun Yuanxin, a senior professor on free trade zones of Shanghai University of Finance and Economics, said that the new items to be promoted cover a wide range of areas and many of them are deeply specialized, reflecting the integration of the institutional innovations.

According to the circular, nine reforms will  be disseminated nationwide in the field of investment management, including the joint filing system of licenses for publication distribution, online distribution, green channel for power project approval and intelligent declaration service for small-scale Value Added Tax (VAT) taxpayers.

In trade facilitation, seven items would be promoted, such as innovation in financial leasing and automobile export, regulation model of bonded goods in processing trade related to plane making industry, return center warehouse of retail cross-border e-commerce and intelligent service for import and export declaration.

In the area of financial opening-up, four items including factoring companies accessing the central bank’s credit information system, green debt financing instrument innovation and securitization of intellectual property rights would be promoted nationwide.

Chen Bo, a professor specialised in free trade zones at Huazhong University of Science and Technology, said that intellectual property securitisation can make intellectual property capitalised and traded, which is conducive to manufacturing industry upgrade and the development of high-tech enterprises.

Another highlight of this batch of pilot reform experience is the facilitation measures for human resource, including the direct recognition of the vocational qualifications of some skilled personnel from Taiwan and a one-stop services platform for personnel crossing the border.

Edited By: Chioma Ugboma/Ismail Abdulaziz (NAN)

Nana Musa: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a media subscriber of the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]

Hundreds of sea lions to be killed in effort to save endangered fish ‘Historic humiliation’: Spanish media flay Barca after Bayern debacle Bayern Munich’s massacre: Ebonyi soccer fans view Messi, Barcelona’s end Kwara Commissioner rewards ad hoc staff for commitment to duty Prominent Lagos politician Lanre Rasak dies at 74 Edo 2020: Ize-Iyamu distances self, APC from Etsako-West violence Lagos-Ibadan rail: Crowd cheers Amaechi, Mohammed as duo ride on new trains Fight over United States Postal Service underscores challenges it faces Israel describes UN rejection of Iran arms embargo as ‘disgrace’ Amaechi, Mohammed inspect Lagos-Ibadan rail project  My album, “Jehovah”, lifts people going through challenges — Gospel songstress Total blackout in Rivers as angry youths shutdown Afam transmission lines Police arrest pastor, 5 others for alleged child theft in A’Ibom Delta approves 3 additional private schools for JSS exams Buhari rejoices with Kingsley Osadolor at 60 COVID-19: survivors say mental health key to defeating virus Kogi Poly expels 25 students for examination malprcatice NBS says 21.76m Nigerians unemployed in 2020 Refugee Commission commends Humanitarian Affairs Minister Latin America’s coronavirus cases exceed 6m Militants attack kills 2 policemen in Afghanistan’s eastern Kunar province Britain marks 75 years since Japan’s defeat in World War II S/Korea capital returns to tougher social distancing rules as virus cases spike Food security: Campaign for Democracy tasks Niger Govt. on security India set to mass produce COVID-19 vaccine, launches digital health mission – Modi UN rejects United States bid to extend Iran arms embargo ASUU kicks against alleged take over of institute by Kano Govt COVID-19: Nigeria records 7 more deaths, 329 fresh cases Barca’s Pique calls for wholesale changes after “shameful” defeat INEC seeks stakeholders collaboration in instituting electoral transparency Bayern Munich must stay grounded in spite of Barca demolition, coach says FC Barcelona’s Umtiti tests positive for COVID-19 Bauchi Gov. condoles family of murdered lawmaker, Mante Football united behind Infantino, FIFA general secretary says Council approves health care provision fund guideline Labour ministry denies complicity in human trafficking UN ‘strongly condemns’ rights abuses in Cameroon Tourism operators reveal Top 10 romantic destinations for honeymoon in Nigeria DG NTA lauds Lalong for peace efforts in Plateau Post COVID-19: Ministry holds public enlightenment on legal metrology Expert call for adequate funding to promote research on stem cell transplant JSS 3 students resume Aug. 16/17 – KDSG FG inaugurates committee of professionals to oversee intergovernmental affairs Mafa: Borno Govt resettles 2,800 displaced families 6-years after insurgents’ attack NAIC, AFAN partner to insure 40m farmers against flood, other disasters Lagos Assembly proposes N20m licence fee for lottery, betting operators Lagos govt charges Lagosians to plant coconuts trees Edo unemployment rate declines to 19% under Obaseki’s job creation drive-official PDP reconstitutes Kaduna State caretaker committee Nasarawa Deputy Governor tasks journalists on investigative reportage