The Qingdao Area of the China (Shandong) Pilot Free Trade Zone plays a vital role in national strategies by integrating favorable policies and promoting investment facilitation to boost development.
The FTZ, which is located in Qingdao's West Coast New Area, Shandong province, covers an area of 52 square kilometers. Since its establishment by the State Council in 2019, it has been committed to creating a free and convenient business environment to develop foreign trade, logistics and attract investment, capital and personnel.
Qingdao FTZ has undertaken 106 pioneering tasks as a national-level reform pilot area and achieved 226 innovations in working formats or management systems. Among them, four items were promoted at a national level and 29 at a provincial level, said Wang Li, deputy director of the management committee of SDPFTZ Qingdao Area.
The FTZ also showcases what the Regional Comprehensive Economic Partnership agreement has done in boosting cross-border trade among China and its regional partners, such as Japan and South Korea. In the FTZ, there are more than 900 enterprises from the two nations.
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