January 09, 2019

State Council discusses FTZ upgrade

Premier Li Keqiang presided over a State Council executive meeting on January 2 to accelerate the upgrade of comprehensive free trade zones and adopt more measures to facilitate trade and investment.

The meeting agreed to offer more convenience for enterprises to sell products on the domestic market. Processing and manufacturing enterprises in the free trade zones will be allowed to undertake domestic processing projects out of the zones.

Enterprises in the free trade zones will be exempted from applying for a permit for importing products used for research and development. Newly founded R&D and processing enterprises will be granted the highest credit level.

The central government will also facilitate logistics in the free trade zones, allow enterprises in the zones to take bonded testing, global maintenance and remanufacturing businesses and support the free trade zones to carry out successful measures tested in the pilot free trade zones.

The government also announced to simplify the enterprise cancellation procedures at the meeting.