The number of newly registered market entities in north China's Tianjin Pilot Free Trade Zone grew 138 percent and the registered capital went up 243 percent year-on-year in half a year, official statistics showed.
Between April 21 and Oct. 20, the Tianjin FTZ saw 7,958 new entities with a total registered capital of 212 billion yuan (33 billion U.S. dollars). The new entities included 343 foreign-invested enterprises, with a combined capital of 66 billion yuan, up 209 percent and 184 percent respectively year-on-year.
The Tianjin FTZ was official launched on April 21 along with the FTZs in Guangdong and Fujian provinces. China's first FTZ was inaugurated in Shanghai in September 2013. Covering about 120 square kilometers, the Tianjin FTZ has more than 33,000 market entities with a registered capital of 1.1 trillion yuan.
The Tianjin FTZ has formulated the second batch of institutional innovation list of 53 moves in government service and supervision, investment and trade facilitation and the opening up of financing, said Jiang Guangjian, deputy head of the Tianjin FTZ Administration Committee. All the 53 moves will be implemented before April 21 next year.