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  • Yiwu Was Selected as An Innovation Demonstration Zone for Promoting Import Trade

  • Source:Yiwu · China Commodity Index Author:Yiwu · China Commodity Index 2020-12-24
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    On November 4th, during the opening of the third China International Import Expo, the Ministry of Commerce announced that 10 innovation demonstration zones for promoting import trade, including Yiwu, would be set up in China.

    The innovation demonstration zone for promoting import trade is jointly selected by the Ministry of Commerce, the National Development and Reform Commission, the Ministry of Finance, the People's Bank of China, the General Administration of Customs, the State Administration of Market Supervision, the Administration of Foreign Exchange, the State Food and Drug Administration and the Export-Import Bank of China. China clearly proposed to cultivate a number of innovation demonstration zones for promoting import trade during the 2nd China International Import Expo last year. According to the list released recently, the 10 demonstration areas, including Shanghai Hongqiao Business District, Dalian Jinpu New District in Liaoning Province, Kunshan in Jiangsu Province, Yiwu in Zhejiang Province, Hefei Economic and Technological Development Zone, Xiamen Huli District in Fujian Province, Qingdao West Coast New Area in Shandong Province, Guangzhou Nansha District in Guangdong Province, Tianfu New Area in Sichuan Province, and Xi'an International Port District in Shanxi Province, cover old industrial bases in eastern, central, western and northeast China, and integrate functions of seaport, airport and land port, thus fully reflects the driving force and potential of import development in China.

    It is reported that, these demonstration zones have two major functions, namely trade promotion and trade innovation. They will focus on improving the level of import facilitation, promoting the circulation of imported goods, and realizing China's commitment on expanding imports. Meanwhile, these demonstration zones will expand the import of technical equipment and raw materials, and will promote the deep integration and efficient linkage between import and industries.

    According to the Ministry of Commerce, China expects to cultivate a number of import demonstration zones with innovative regulatory system, complete service functions and flexible trading mode in three to five years, so as to steadily expand the import scale of China, continuously optimize the import structure, promote the quality and efficiency of relevant industries, and significantly improve the consumption level.