Hong Kong and Macao members discussed development of Yunnan Pilot FTZ

Yunnan Province started its local two sessions on January 25. 21 of the 31 Hong Kong and Macao members of Yunnan Provincial CPPCC were unable to attend due to the COVID-19 epidemic. They participated in the conference remotely via the internet and made suggestions on the development of the China (Yunnan) Pilot Free Trade Zone (FTZ).

Zhuang Zhemeng, member of the Standing Committee of Yunnan Provincial CPPCC and chairman of Association of Hong Kong and Macao Members of CPPCC in Yunnan Province, indicated that the Yunnan Pilot Free Trade Zone is set up around various parks now, such as the airport economic zone, comprehensive bonded zone, economic development zone and high-tech zone. The industrial agglomeration advantage and trade environment provide important support for institutional innovation in Yunnan Pilot FTZ.

In Zhuang’s opinion, as the main development orientation of various parks lies in the industrial function and economic function, and the orientation of Yunnan Pilot FTZ mainly lies in the institutional innovation function of investment and trade facilitation. Therefore, the development of the parks and Yunnan Pilot FTZ is both related and different.

Zhuang suggested that Yunnan Pilot FTZ should focus on strengthening the innovative synergy between the zone and various industrial parks and jointly realizing integrated development.

Deng Xuanhongyan, member of the Standing Committee of Yunnan Provincial CPPCC and president of Association of Hong Kong and Macao Members of CPPCC in Yunnan Province, said that Yunnan has regional advantages and industrial development advantages in the “Big cycle” and “Dual cycle”. With the construction of the “One Belt and One Road” and the signing of the Regional Comprehensive Economic Partnership (RCEP), Yunnan’s late-mover advantage is more obvious.

Deng suggested that Yunnan should actively seize the opportunity of the construction and development of Yunnan Pilot FTZ, fully implement the functional positioning of the zone and the comprehensive pilot zone of cross-border e-commerce, deepen institutional innovation, accelerate the building of a service-oriented government, foster a world-class business environment which is market-oriented, legalized, convenient, attract and retain foreign-funded enterprises.

Wu Datian, member of the Standing Committee of the CPPCC of Yunnan Province and president of Hong Kong Tianbao Xingsheng Investment Co., Ltd., said that he found some enterprises were not very clear about the concept and policy of the pilot FTZ in 2019. 

Wu suggested that Yunnan should strengthen training for local officials and staff working in the FTZ to enhance their knowledge of FTZ and cross-border e-commerce.

China (Yunnan) Pilot Free Trade Zone was established in August 2019, covering Kunming Area, Honghe Area and Dehong Area. It is one of the 3 FTZs laid out in China’s border areas for the first time. At present, about 160 new market entities are born in the FTZ every day, and about 1 foreign-funded enterprise is introduced every 4 days.

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(Editors: Christine, Rachel)

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