NE.China's Liaoning FTZ Dalian area issues guidelines to boost development under RCEP

Aerial photo taken on Sept. 24, 2020 shows containers at Dalian port in northeast China's Liaoning Province.  (Xinhua/Yao Jianfeng)

The Dalian area of China (Liaoning) Pilot Free Trade Zone (FTZ), also known as Dalian Free Trade Zone, in Northeast China's Liaoning Province released action plans and measures on Monday aimed at helping local governments, industries and companies better seize the opportunities brought by the Regional Comprehensive Economic Partnership (RCEP) and promote higher levels of opening-up.

The action plan contains 20 measures ranging from building an international cooperation platform, deepening industrial cooperation, boosting foreign trade, and optimizing the business environment. It offers directions for the Dalian area on how to align itself with the RCEP's regulations.

For example, the action plan noted that the Dalian area will help attract investment in key industries such as automobiles, integrated circuits, new energy, and biomedicine, and will encourage companies to expand the import of high-end technology products such as auto parts, smart equipment, and medical equipment.

At the same time, Dalian area will implement the Qualified Foreign Limited Partner (QFLP) pilot system and projects in the FTZ, and support funds in the RCEP partners to invest in Dalian's modern industrial development strategy. It also provides directions on how to build an international logistics hub connecting RCEP member countries and regions.

It also listed various support measures that the Dalian FTZ will take to optimize the business environment. For example, Dalian will regularly hold expert forums and seminars to strengthen enterprises to better align with the RCEP rules, and strengthen the protection system for enterprises' overseas rights and interests.

To ensure the effective implementation of the action plan, it also issued 15 preferential policies to encourage the RCEP-related enterprises to deepen the economic and trade cooperation with the RCEP countries and regions.

Fu Qiang, deputy director of the management committee of Dalian area of Liaoning Pilot FTZ and Dalian FTZ, expressed high hopes for the RCEP to play a critical role in supporting the area's development, saying that the Dalian area will strive to build the itself into an international business hub under the RCEP, and promote resources such as enterprises, talents, and investment to empower the development of the free trade zone.