Page 86 - 2019 Special Report on the State of Business in South China
P. 86
Remove the restrictions on foreign ownership in kilometers, including Pingtan Area, Xiamen Area and
automotive industry for special vehicles and new Fuzhou Area. Pingtan Area is designed to be developed
energy vehicles in shipbuilding industry for the into a cross-Strait common home and international
design, manufacturing, repair and other stages; and in tourist island and to provide more facilities for the free
aircraft industry. and convenient exchange of investment, trade, capital
and personnel. Xiamen Area is designed to be developed
Encourage foreign investments in innovation and into a demonstration area for cross-Strait emerging
development, and introduce import tax, import value- industry and modern service industry cooperation,
added tax and import consumption tax exemption a Southeast international shipping center, a cross-
for supplies used for scientific research, technological Strait regional financial service centerand a cross-Strait
development and teaching that cannot be produced trade center. Fuzhou Area is designed to be developed
domestically or the performance of which cannot meet into an advanced manufacturing base, an important
the requirements and have to be purchased by the platform for the exchange and cooperation among
qualified foreign-funded R&D centers. Further implement countries along the 21st Century Maritime Silk Road
the high-the policies on tech enterprises to encourage and a demonstration area for cross-Strait service trade
more foreign investments in high-tech fields. cooperation and financial innovation cooperation.
Circular of the Fujian Provincial On April 20, 2015, the Fujian Provincial Government
People’s Government on Releasing the published the Administrative Measures on China (Fujian)
Implementation Plan for Fully Implementing Free Trade Pilot Zone (Provincial Government Order No.
the “Separation Between Business Licenses 160), to specify corresponding administrative measures
and Permits” Reform in Fujian Province from the perspectives of investment management
and trade facilitation, exchange and cooperation
On November 7, 2018, the Fujian Provincial People’s between Fujian and Taiwan, opening-up, innovation
Government released the Circular of the Fujian Provincial and risk prevention in finance sector, tax management,
People’s Government on Releasing the Implementation integrated management and security, etc.
Plan for Fully Implementing the “Separation Between
Business Licenses and Permits” Reform in Fujian On August 16, 2015, Industrial Development Plan
Province (the “Circular”), to undertake comprehensive of China (Fujian) Pilot Free Trade Zone (2015-2019) was
reform of the approval procedures and simplify released for implementation, with seven highlights,
business licenses and permits. The Circular requires including international trade, shipping services, modern
“to simplify the approval materials for foreign-funded logistics, financial services, emerging services, tourism
travel agency business, foreign-funded cinemas, the services and high-end manufacturing.
set-up of profit-making medical institutions invested
by foreign investors and investors from Hong Kong, Since the launch of China (Fujian) Pilot Free Trade
Macao and Taiwan (excluding wholly foreign-owned Zone, it has taken the lead in relaxing the restrictions
medical institutions), Sino-foreign cooperative joint for Taiwan investors, such as equity ratio limit, business
ventures engaging in printing, and wholly foreign- scope and access threshold and actively attracting
owned enterprises engaging in printing of package and Taiwan-funded financial institutions to settle in the
decorating materials, etc.; and to allow foreign-funded pilot free trade zone. By the end of September 2018, the
international ship management business directly exempt Pilot Free Trade Zone has attracted 2,185 new Taiwan-
from approvals. funded enterprises and US$6.03 billion investment from
Taiwan investors, accounting for 51.9% and 57.2% of the
Special Economic Zones corresponding period of the province, respectively.
China (Fujian) Pilot Free Trade Zone Fuzhou Area of China (Fujian) Pilot Free
Trade Zone
China (Fujian) Pilot Free Trade Zone was officially set
up on December 31, 2014, and the opening ceremony Fuzhou Area of China (Fujian) Pilot Free Trade Zone
was held in Fuzhou on April 21, 2015. China (Fujian) covers an area of 31.26 square kilometers and is divided
Pilot Free Trade Zone covers an area of 118.04 square
86
automotive industry for special vehicles and new Fuzhou Area. Pingtan Area is designed to be developed
energy vehicles in shipbuilding industry for the into a cross-Strait common home and international
design, manufacturing, repair and other stages; and in tourist island and to provide more facilities for the free
aircraft industry. and convenient exchange of investment, trade, capital
and personnel. Xiamen Area is designed to be developed
Encourage foreign investments in innovation and into a demonstration area for cross-Strait emerging
development, and introduce import tax, import value- industry and modern service industry cooperation,
added tax and import consumption tax exemption a Southeast international shipping center, a cross-
for supplies used for scientific research, technological Strait regional financial service centerand a cross-Strait
development and teaching that cannot be produced trade center. Fuzhou Area is designed to be developed
domestically or the performance of which cannot meet into an advanced manufacturing base, an important
the requirements and have to be purchased by the platform for the exchange and cooperation among
qualified foreign-funded R&D centers. Further implement countries along the 21st Century Maritime Silk Road
the high-the policies on tech enterprises to encourage and a demonstration area for cross-Strait service trade
more foreign investments in high-tech fields. cooperation and financial innovation cooperation.
Circular of the Fujian Provincial On April 20, 2015, the Fujian Provincial Government
People’s Government on Releasing the published the Administrative Measures on China (Fujian)
Implementation Plan for Fully Implementing Free Trade Pilot Zone (Provincial Government Order No.
the “Separation Between Business Licenses 160), to specify corresponding administrative measures
and Permits” Reform in Fujian Province from the perspectives of investment management
and trade facilitation, exchange and cooperation
On November 7, 2018, the Fujian Provincial People’s between Fujian and Taiwan, opening-up, innovation
Government released the Circular of the Fujian Provincial and risk prevention in finance sector, tax management,
People’s Government on Releasing the Implementation integrated management and security, etc.
Plan for Fully Implementing the “Separation Between
Business Licenses and Permits” Reform in Fujian On August 16, 2015, Industrial Development Plan
Province (the “Circular”), to undertake comprehensive of China (Fujian) Pilot Free Trade Zone (2015-2019) was
reform of the approval procedures and simplify released for implementation, with seven highlights,
business licenses and permits. The Circular requires including international trade, shipping services, modern
“to simplify the approval materials for foreign-funded logistics, financial services, emerging services, tourism
travel agency business, foreign-funded cinemas, the services and high-end manufacturing.
set-up of profit-making medical institutions invested
by foreign investors and investors from Hong Kong, Since the launch of China (Fujian) Pilot Free Trade
Macao and Taiwan (excluding wholly foreign-owned Zone, it has taken the lead in relaxing the restrictions
medical institutions), Sino-foreign cooperative joint for Taiwan investors, such as equity ratio limit, business
ventures engaging in printing, and wholly foreign- scope and access threshold and actively attracting
owned enterprises engaging in printing of package and Taiwan-funded financial institutions to settle in the
decorating materials, etc.; and to allow foreign-funded pilot free trade zone. By the end of September 2018, the
international ship management business directly exempt Pilot Free Trade Zone has attracted 2,185 new Taiwan-
from approvals. funded enterprises and US$6.03 billion investment from
Taiwan investors, accounting for 51.9% and 57.2% of the
Special Economic Zones corresponding period of the province, respectively.
China (Fujian) Pilot Free Trade Zone Fuzhou Area of China (Fujian) Pilot Free
Trade Zone
China (Fujian) Pilot Free Trade Zone was officially set
up on December 31, 2014, and the opening ceremony Fuzhou Area of China (Fujian) Pilot Free Trade Zone
was held in Fuzhou on April 21, 2015. China (Fujian) covers an area of 31.26 square kilometers and is divided
Pilot Free Trade Zone covers an area of 118.04 square
86
