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accounting for 65.2% of the city's total utilization Trade Zone (16 square kilometers); (ii) the High-tech
of foreign investment46. In the first half of 2021, Industrial Zone (15 square kilometers); and (iii) the
Xiamen’s GDP continued to exceed to RMB39.2 Tourism and Business Zone (12 square kilometers).
billion (US$5.9 billion) with 21.6% YoY growth. A The Pingtan Area focuses on constructing a cross-
total of 623 new business projects were launched strait common home and international tourist
with investment of RMB86.1 billion and registered island and providing facilities for the free and
capital of RMB34.9 billion47. convenient exchange of investment, trade, capital
and personnel. Functional positioning:
In October 2021, the Development and Reform
Commission of Xiamen issued the Guidance - The Port Economic and Trade Zone was set
for the Industrial Spatial Distribution in Xiamen up to: (i) accelerate the construction of industrial
(2021 Edition)48 to facilitate the construction functional platforms such as port logistics, business
of key industrial chains. The industrial spatial service and electronic industry clusters; and (ii)
distribution in Xiamen is classified into two parts focus on the development of international trade,
namely advanced manufacturing and modern modern logistics, business services, electronic
service, covering nine leading industries and two information equipment manufacturing, etc.
comprehensive parks, encompassing 60 functional
areas with a total land scale of 309.8 square - The High-tech Industrial Zone was set up
kilometers. Recently, the government of Xiamen to: (i) explore cross-strait cooperation in building
also released its development plan for strategic high-tech industrial bases by accelerating the
emerging industries as a part of the 14th Five-Year construction of industrial functional platforms such
Plan49. It proposes that Xiamen will fully boost as R&D headquarters, marine industry and high-
the development of "5+X" key sectors, foster the end light manufacturing clusters; (ii) give full play to
next generation information technology industry policy advantages regarding place of origin; and (iii)
as a backbone; focus on two emerging leading focus on the development of marine life, medical
industries, which are the biomedicine & health devices, packaging materials and light equipment
industry and the new material & new energy manufacturing and other high-tech industries.
industry; strengthen two characteristic landmark
industries, which are the digital innovation and - The Tourism and Business Zone was set
marine high-tech industry. The goal of Xiamen up to: (i) focus on tourism and tourist services;
before 2025 is to achieve value-added of strategic and (ii) accelerate the construction of industrial
emerging industries to RMB250 billion, accounting functional platforms such as coastal tourist, cross-
for 25% of GDP. The value-added of high-tech strait tourism, and agricultural and fishing product
industries is expected to account for 45% of that processing clusters.
of all industries.
In 2020, the GDP of Pingtan reached
Pingtan Area of the China (Fujian) Pilot Free RMB30.1billion with 5.4% YoY growth, and the
Trade Zone tertiary industry contributed 60% of GDP50. In terms
of developing new economy and new business
The Pingtan Area of the China (Fujian) Pilot Free model, Pingtan promotes a combination of
Trade Zone covers 43 square kilometers and is institutional innovation and functional upgrading to
divided into three blocks: (i) the Port Economic and stimulate the vitality of market. The first blockchain
46 Invest Xiamen, https://www.investxiamen.org. financial service platform was built in Pingtan and
cn/detail_en/2153.html the first blockchain invoice was issued by Pingtan.
47 Chinadaily.com.cn, https://investinchina. Overall, in 2020, the revenue of Pingtan’s platform
chinadaily.com.cn/s/202107/28/WS611b7a63498e- economy exceeded to RMB45 billion, over 300
6a12c1204829/xiamen-ftz-records-gdp-of-39-02b- financial enterprises were located in Pingtan, with
yuan-in-h1.html asset management scale of more than RMB180
48 Xiamen development and reform commission,
http://dpc.xm.gov.cn/xxgk/xxgkml/qtyzdgkxx/202110/ 50 Government of Pingtan, http://www.pingtan.
t20211015_2591408.htm gov.cn/jhtml/ct/ct_2971_97542
49 Government of Xiamen, http://www.xm.gov.
cn/zwgk/flfg/sfbwj/202110/t20211022_2593423.htm
100
of foreign investment46. In the first half of 2021, Industrial Zone (15 square kilometers); and (iii) the
Xiamen’s GDP continued to exceed to RMB39.2 Tourism and Business Zone (12 square kilometers).
billion (US$5.9 billion) with 21.6% YoY growth. A The Pingtan Area focuses on constructing a cross-
total of 623 new business projects were launched strait common home and international tourist
with investment of RMB86.1 billion and registered island and providing facilities for the free and
capital of RMB34.9 billion47. convenient exchange of investment, trade, capital
and personnel. Functional positioning:
In October 2021, the Development and Reform
Commission of Xiamen issued the Guidance - The Port Economic and Trade Zone was set
for the Industrial Spatial Distribution in Xiamen up to: (i) accelerate the construction of industrial
(2021 Edition)48 to facilitate the construction functional platforms such as port logistics, business
of key industrial chains. The industrial spatial service and electronic industry clusters; and (ii)
distribution in Xiamen is classified into two parts focus on the development of international trade,
namely advanced manufacturing and modern modern logistics, business services, electronic
service, covering nine leading industries and two information equipment manufacturing, etc.
comprehensive parks, encompassing 60 functional
areas with a total land scale of 309.8 square - The High-tech Industrial Zone was set up
kilometers. Recently, the government of Xiamen to: (i) explore cross-strait cooperation in building
also released its development plan for strategic high-tech industrial bases by accelerating the
emerging industries as a part of the 14th Five-Year construction of industrial functional platforms such
Plan49. It proposes that Xiamen will fully boost as R&D headquarters, marine industry and high-
the development of "5+X" key sectors, foster the end light manufacturing clusters; (ii) give full play to
next generation information technology industry policy advantages regarding place of origin; and (iii)
as a backbone; focus on two emerging leading focus on the development of marine life, medical
industries, which are the biomedicine & health devices, packaging materials and light equipment
industry and the new material & new energy manufacturing and other high-tech industries.
industry; strengthen two characteristic landmark
industries, which are the digital innovation and - The Tourism and Business Zone was set
marine high-tech industry. The goal of Xiamen up to: (i) focus on tourism and tourist services;
before 2025 is to achieve value-added of strategic and (ii) accelerate the construction of industrial
emerging industries to RMB250 billion, accounting functional platforms such as coastal tourist, cross-
for 25% of GDP. The value-added of high-tech strait tourism, and agricultural and fishing product
industries is expected to account for 45% of that processing clusters.
of all industries.
In 2020, the GDP of Pingtan reached
Pingtan Area of the China (Fujian) Pilot Free RMB30.1billion with 5.4% YoY growth, and the
Trade Zone tertiary industry contributed 60% of GDP50. In terms
of developing new economy and new business
The Pingtan Area of the China (Fujian) Pilot Free model, Pingtan promotes a combination of
Trade Zone covers 43 square kilometers and is institutional innovation and functional upgrading to
divided into three blocks: (i) the Port Economic and stimulate the vitality of market. The first blockchain
46 Invest Xiamen, https://www.investxiamen.org. financial service platform was built in Pingtan and
cn/detail_en/2153.html the first blockchain invoice was issued by Pingtan.
47 Chinadaily.com.cn, https://investinchina. Overall, in 2020, the revenue of Pingtan’s platform
chinadaily.com.cn/s/202107/28/WS611b7a63498e- economy exceeded to RMB45 billion, over 300
6a12c1204829/xiamen-ftz-records-gdp-of-39-02b- financial enterprises were located in Pingtan, with
yuan-in-h1.html asset management scale of more than RMB180
48 Xiamen development and reform commission,
http://dpc.xm.gov.cn/xxgk/xxgkml/qtyzdgkxx/202110/ 50 Government of Pingtan, http://www.pingtan.
t20211015_2591408.htm gov.cn/jhtml/ct/ct_2971_97542
49 Government of Xiamen, http://www.xm.gov.
cn/zwgk/flfg/sfbwj/202110/t20211022_2593423.htm
100
