Jinan FTZ sees robust development over past year

(chinadaily.com.cn)| Updated : 2020-09-03

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The Jinan Area of the China (Shandong) Free Trade Zone has made significant progress in attracting talent and foreign projects, as well as in optimizing its business environment, after just one year of development.

The Jinan FTZ was launched on Aug 31, 2019 and covers an area of 37.99 square kilometers.

As of the end of August, a total of 52,000 companies had registered in the area, including 38 listed companies such as Bloomage Biotechnology Corporation, Dareway Software Co, and Jinan Niutech Environment Technology Corporation.

The Jinan FTZ has played a key role in the city's opening up and the development of its foreign trade.

From January to July, Jinan's imports and exports were valued at 80.88 billion yuan ($11.84 billion), a year-on-year increase of 32.4 percent, the fastest growth rate in Shandong province.

Over the past few years, Jinan Customs has rolled out a total of 27 measures to promote cross-border trade and support the development of the Jinan FTZ.

The Jinan Weixi International Trade Company in Jinan FTZ became the first cross-border electronic commerce company to complete a B2B order on Aug 31 at Jinan Customs.

The Jinan government is currently making efforts to improve its business environment and optimize its policies to promote the development of the area.