China (Liaoning) Pilot Free Trade Zone

Updated: June 12, 2023 Source: China (Liaoning) Pilot Free Trade Zone
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Introduction to Liaoning FTZ

With a total planning area of 119.89 km², Liaoning FTZ is composed of 3 areas, Dalian Area of 59.96 km² with Dayao and Xiaoyao Bays as the core, Shenyang Area of 29.97 km² with Hunnan New District (Taoxian Airport) as the core, Yingkou Area of 29.96 km² with Yingkou high-tech zone as the core.

Strategic positioning

Implement the requirement by the central government to accelerate reform of market-oriented system and mechanism and to push forward structural adjustment, to make efforts to create a new engine to greatly elevate comprehensive competitiveness of old industrial base and its opening up.

Development Goals

During 3-5 years of reform and exploration, a new system of open economy, an international and facilitated business climate and an institutional innovation system suitable for global trade rules will be created. A pilot zone featuring with high-end industrial clusters, investment and trade facilitation, perfect financial services, efficient and convenient supervision as well as a normative legal environment will be established. Liaoning FTZ will function as a demonstration zone to facilitate the transformation and upgrading of economic development in Northeast China, promoting overall competitiveness of Northeast old industrial bases.

Function positioning

Dalian Area of China (Liaoning) Pilot Free Trade Zone will focus on the development of the port and shipping logistics, financial trade, advanced equipment manufacturing, high and new technology, circular economy, shipping service and other industries, promoting the construction procedure of the international shipping center in Northeast Asia and international logistics center to form a strategic high ground for opening-up and cooperation in Northeast Asia.

Shenyang Area of China (Liaoning) Pilot Free Trade Zone will focus on the development of advanced manufacturing, including equipment manufacturing, auto vehicles and auto components as well as aviation equipment, and modern services including finance, science and technology as well as logistics, so as to improve the development level of the national new-type industrial demonstration city and science and technology innovation center in Northeast China, and construct an advanced equipment manufacturing base with international competitiveness.

Yingkou Area of China (Liaoning) Pilot Free Trade Zone will focus on the development of modern services, including trade logistics, cross-border e-commerce and finance, and strategic emerging industries, including new generation information technology and high-end equipment manufacturing, constructing regional international logistics center, high-end equipment manufacturing base and high-tech industrial base and building an important hub for the international joint channel of shipping and railway transport.

Institutional innovation

Compared with other free trade zones, Liaoning FTZ has always insisted institutional innovation as its core, and carries out experimental work in six aspects, which accelerates establishing institutional innovation system in the whole province.

In terms of investment liberalization, we are implementing investment management system with negative list management as the core to create market regulation mode in accord with common international rules. Measures such as foreign investment project filing system, business license before authorized permits, simplified cancellation procedures, single window for access, etc. have been carried out that companies could enjoy maximum convenience and freedom in investment and operation.

In terms of trade facilitation, with single window for international trade as the breakthrough, we are implementing four-ones policy to deal with global trade, such as "one platform, one interface, one linking point, and one time declaration", to push forward reform in this field. Besides, a range of facilitation measures, like independent customs bonding and clearance, classified supervision of the state of the goods, automatic examination and final clearance, inspection of important goods have also been pushed forward in order to provide better services to trading companies.

In terms of open innovation in financial area, we are exploring RMB and foreign currency management system suitable for FTZ to facilitate innovative development of cross border RMB business. Meanwhile, we will deepen reform of foreign currency management system and intensify financial service esp. its capability for the real economy, establishing and improving financial risk prevention system.

In terms of in-the-cause and after-event supervision, we are setting up social credit system, carrying out comprehensive administrative enforcement of law, promoting systems like business report and publicity, social participation and regulation, and making great efforts establishing transparent and efficient system of in-the-cause and after-event supervision.

In terms of structural adjustment in old industrial bases, we will make full advantage of FTZ platform to attract foreign capital and introduce advanced equipment, technology and expertise, accelerating mixed ownership reform and vitalizing local companies. At the same time, productive service industry will be greatly promoted to shore up cluster development of emerging regional characteristic industries. A highland of scientific and technological innovation and talented people will be made to optimize mechanism to cultivate and attract innovative talents.

In terms of opening up and cooperation in Northeast Asia, we will build an air-sea-land thoroughfare to further connect with Eurasia, establish modern logistics system and international shipping center, creating modern logistics industry system for Northeast Asia as well as internationally competitive port and air shipping development system and operation pattern. Meanwhile, new promotion mechanism of cooperation and two-way investment will be set up soon as to explore and enhance cooperation with countries in Northeast Asia in multi-fields.

Editor: Gao Jingyan