Southwest China's Chongqing Municipality, located at the junction of the route of the Belt and Road Initiative and Yangtze River Economic Belt, is committed to the Belt and Road Initiative as a new inland openness portal.
According to deputies to the 12th National People's Congress (NPC), Chongqing is actively promoting the construction of Liangjiang New Area and Chongqing Bonded Port Area, making bold innovation in trade and supervision mechanism, and contributing to the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity, in a bid to better involve in the Belt and Road Initiative.
--Liangjiang New Area plays a key role by practicing multimodal transportation
The Belt and Road Initiative has provided a broad platform for Chongqing to "go out," while the Yangtze River Economic Belt has offered a golden opportunity for the municipality to integrate with the central and east China.
"Relying on Guoyuan Port and Cuntan Port, Liangjiang New Area aims to build the largest inland multimodal transportation port, cultivate shipping center in the upper reaches of the Yangtze River, and further open Guoyuan Port to carry out the international trade of bulk commodities," said Tang Zongwei, a deputy to the 12th NPC and executive deputy director of Liangjiang Administrative Committee.
Moreover, Liangjiang New Area will participate in the customs clearance integration construction of the Yangtze River ports, promote customs clearance along the route of the Belt and Road, and create an efficient customs clearance environment with simplified and optimized service.
--Chongqing Bonded Port Area practices free trade function in logistics and trade field
Tang Lin, a deputy to the 12th NPC and president of the Chongqing Bonded Port Company, noted that bonded port area has made great endeavor to build itself into a logistic hub. At present, an airport international logistics zone boasting an area of 1.88 square kilometers has been established in the Chongqing Bonded Port Area, which has attracted famous logistic enterprises from China and those from Australia, Singapore, Japan, the United States to settle down.
Tang Lin disclosed that the trade function zone set up in the Chongqing Bonded Port Area has passed the examination and gone into operation on April 16, 2015. As the trade function zone has enjoyed the policy privilege of bonded area, comprehensive bonded area and bonded port area, it is more convenient to coordinate both foreign and domestic trade, connect both international and domestic markets.
Previously, media reported that China is expected to roll out the third batch of pilot free trade zones (FTZ) after annual two sessions at the soonest. 5-8 inland and near-border areas are likely to be chosen. Chongqing has taken the initiative to apply for the pilot. In order to differentiate from the coastal FTZs, the third batch of FTZs has shouldered the responsibility of supporting Belt and Road Initiative and exploring new channels for the development of inland regions.
Insiders predict that it is highly possible for Chongqing to be selected as one of the third batch of free trade zones. Chinese Peasants and Workers Democratic Party suggested that China conduct inland FTZ pilots, support Chongqing and Chengdu to explore a new inland FTZ modal with distinctiveness.
--Chongqing pilots China-Singapore Demonstration Initiative to realize interconnectivity
On November 7, 2015, China and Singapore issued a statement declaring that the two sides approved of choosing Chongqing as the operation center of the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity and listing financial service, aviation, transportation and logistics, as well as information communications technology as key cooperation fields.
Tang Zongwei noted that this is the first inland cooperation initiative between China and Singapore, which is of great significance for inland openness. Once achieving success, Chongqing's example will be introduced to the whole central and west China.
Tang Lin said that Chongqing Bonded New Area, with the Demonstration Initiative serving as the breakthrough point, will try to forge a logistic demonstration zone featuring interconnectivity and create a convenient channel for cross-border e-commerce enterprises and financial settlement.
As a pioneer for China's inland to extend economic and trade exchange with Southeast Asia, Chongqing's endeavor and experience can be learned by Shaanxi Province, Sichuan Province and Xinjiang Uygur Autonomous Region in the future. The move will stimulate communication between the whole west China and Southeast Asia and further boost the development of FTZ strategy.
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