81 projects with a total investment of 46.68 billion yuan signed in Kunming Area last year


There were 81 signed projects with a total investment of 46.68 billion yuan and 17,104 new enterprises entering in the Kunming area of China (Yunnan) Pilot Free Trade Zone in 2020. The total trade volume of imports and exports reached 38.74 billion yuan, and 8 banks inside the area issued a loan of 2.514 billion yuan for the work resumption of 1,974 enterprises, according to the press conference held on January 18.

In 2020, Kunming Area has jointly advanced the work of system innovation and promotion. In details, the implementation rates of 76 tasks has reached 100% and 3 batches with the total of 26 replicable cases were sorted out and submitted. 

Up to now, 17,104 new enterprises have been set up in Kunming Area, of which 17,031 are domestic enterprises with a registered capital of 170.3 billion yuan, and 73 are foreign enterprises with a registered capital of 1.334 billion US dollars.

In 2020, Kunming Area has fully strengthened the capacity of financial services, and supported financial institutions from South and Southeast Asian countries in setting up branches here. At present, there are 9 foreign-funded financial institutions, including Hang Seng, HSBC, Standard Chartered Bank, etc., with the number of foreign banks ranking the third in Western China.

Zhang Qiu, member of the Party Working Committee, introduced that in 2021 Kunming Area will feature the "border" and "cross-border" characteristics and work with border cooperation zones to form a number of replicable and high-quality reforming experimental results. At the same time, Kunming Area will develop local cross-border e-commerce platforms better, encourage enterprises to build overseas warehouses in neighboring countries, expand good brands into international markets, build a warehouse or distribution center for cross-border e-commerce import and export goods and carry out pilots of market procurement trade mode. 

In addition, the Kunming Area also released the first batch of institutional innovation cases and outstanding financial innovation cases at the press conference.

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(Editors: Rachel, Christine)

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