Authorities in Fuzhou, capital of Fujian province, have outlined tasks regarding the construction of the free trade zone (FTZ), Xinhua News Agency reported on Jan 4.

Fuzhou, together with Pingtan and Xiamen, was approved by China’s central authorities for the establishment of an FTZ in Fujian province.

The FTZ in Fuzhou covers an area of 31.26 sq km in the Fuzhou Economic and Technology Development Zone and the Fuzhou Bonded Port Area. It is expected to be officially inaugurated by March.

An administrative committee responsible for carrying out reforms and coordinating tasks in Fuzhou FTZ will be set up soon, a source from the city’s FTZ office said.

Fuzhou will also roll out a string of measures and stimuli for improving the business environment, industrial upgrading, cultural integration, Maritime Silk Road construction as well as financial innovation in its FTZ.

The following are some of the highlights:

Consolidating resources at a processing and trade zone inside the Fuzhou Bonded Port Area.

Relaxed customs clearance procedures will be taken. Certain cargo is expected to be given port clearance prior to being examined later in situ. 

An e-platform of public information will be established, allowing different departments to share information.

Vehicles and farm products imported from Taiwan will enjoy faster inspection and quarantine.

A cross-Straits manufacturing and research base of electronic information products will be built.

A cross-border e-commerce logistics park that covers an area of 200,000 sq m will be built, exploring breaking new ground in express delivery cooperation between Fujian and Taiwan.

A cross-Straits vehicle operational center will be built and is likely to push for parallel imports of finished vehicles from overseas.

More major cold-chain logistics projects will be launched to enhance cross-Straits fishing industry cooperation.

The FTZ will try to collaborate with some top-notch universities in Taiwan and the whole world by opening their branches, increasing educational exchanges and even jointly setting up schools.

The medical service industry will thrive in the FTZ after it brings in more medical experts and attracts more overseas investments.

Fuzhou and Matsu, an outlying islet of Taiwan, will establish a base for tourism cooperation in the FTZ to learn from the experience, share tourism resources and promote each other’s tourism programs.

A cross-Straits cultural creation park will be built, attracting Taiwanese professionals.

The Shipbuilding Culture Town will become a base for cross-Straits cultural integration.

A commodity exchange for trading of aquatic products between China and ASEAN members, adopting RMB settlement, will be built.

A 10-billion-yuan 21st Maritime Silk Road Fund will be set up to boost local enterprises “going global”.