Tianjin pushes for building of Free Port

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Tianjin is stepping up its efforts to build a high-standard pilot free trade zone and apply for the establishment of a free port to further drive the joint development of the Beijing-Tianjin-Hebei region, the zone's administration said.

The administration revealed that it has, following detailed research and discussion, drafted and revised the construction plan of the Beijing-Tianjin-Hebei free port, which would further integrate regional development.

Customers purchase imported alcoholic drinks at a direct sales shop in the Dongjiang bonded zone in Tianjin

The plan will be submitted to the higher authorities "in due course", it said. If it is approved, the blueprint for the free port would serve as a platform for the region to open further to the outside world.

A free port is set up within a country or a region's borders but is outside its customs' supervision. It is open to all commercial vessels on equal terms. Goods may be unloaded, stored and shipped without the payment of customs duties.

A worker walks past containers at Tianjin Port

A free port needs specially designed policies in terms of market access, financial systems and taxation, said Wei Jianguo, vice-president of the China Center for International Economic Exchanges.

Earlier in 2016, a 10 billion yuan ($1.44 billion) government-backed fund was set up to promote the development and integration of the Beijing-Tianjin-Hebei region.

The China (Tianjin) Pilot Free Trade Zone was set up in 2015. More than three years on, the zone has made significant advances.

Peng Zhiwei, director of the department of international economics and trade at Nankai University, said the Tianjin FTZ has made several breakthroughs in terms of institutional reform, investment promotion, trade liberalization, and the innovation of financial systems.

Tianjin Airbus Assembly Line

By the end of October, the zone had carried out 60 percent of the 128 pilot tasks outlined in an earlier overall plan.

Concrete measures have also been taken in the zone to facilitate trade and investment, offering a one-stop service to companies. The average customs clearance time has been cut from up to two days to two hours. In addition, customs clearance costs have been reduced by 70 percent, and logistics costs by 30 percent.

Since it was launched, the FTZ has attracted 2,353 foreign companies, with total registered capital of 433.1 billion yuan.

天津保税区推动自由港建设

中国北方沿海城市天津正在加紧建设高标准试点自由贸易区，申请建立自由港，进一步推动京津冀地区的联合开发。

经过详细的研究和讨论，起草并修订了京津冀自由港的建设计划，进一步整合了区域发展。

该计划将“在适当的时候”提交给上级部门。如果获得批准，自由港的蓝图将成为该地区进一步向外界开放的平台。

在一个国家或地区的边界内设立一个自由港，但不在海关监管范围内。它以平等的条件向所有商船开放。货物可以在不支付关税的情况下卸载，存储和运输。

中国国际经济交流中心副主席魏建国表示，自由港需要在市场准入，金融体系和税收等方面制定专门的政策。

2016年初，政府支持的100亿元人民币(14.4亿美元)资金用于促进京津冀地区的发展和一体化。

中国(天津)自由贸易试验区于2015年成立。三年多来，该区域取得了重大进展。

南开大学国际经济与贸易系主任彭志伟表示，天津保税区在体制改革，投资促进，贸易自由化和金融体系创新方面取得了一些突破。

到10月底，该区域执行了早期总体计划中概述的128个试点任务中的60%。

该区域也采取了具体措施，以促进贸易和投资，为公司提供一站式服务。平均通关时间从最多两天减少到两小时。此外，清关费用减少了70%，物流费用减少了30%。

自成立以来，自贸区吸引了2,353家外国公司，总注册资金4331亿元。

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Business Tianjin 2018 November Issue

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