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Demonstration zones sign of higher level of opening-up

Source: China Daily Updated: 2022-11-17


Photo shows a view of Nansha Port in Guangzhou, South China's Guangdong province. [Photo provided to] 

The central government has recently issued a notice on the establishment of 29 more national demonstration zones for innovative development of the import trade, raising the number of such zones in China to 43. This marks China's renewed efforts to expand imports and promote higher-level opening-up.

In the first 10 months of this year, the total value of China's foreign trade reached 34.62 trillion yuan ($4.91 trillion), up 9.5 percent year-on-year. Imports during the period reached 14.91 trillion yuan, up 5.2 percent. China has been the world's second-largest importer for 13 consecutive years and is now a major export destination for 60 countries and regions across the world, with its imports accounting for 10.6 percent of the world's total imports in the first half of this year.

As an import promotion platform, the 14 national demonstration zones previously identified by the authorities have adopted a series of pioneering policies to promote deep integration of the import trade with industries and consumption and formed their respective advantages and characteristics.

In the demonstration zone in Nansha district, Guangzhou, Guangdong province, six import platforms each with an import value of more than 10 billion yuan have been formed, mainly focusing on wine, milk powder, healthcare products and other industries.

A report on the development of China's import trade recently released by several domestic universities concludes that the 14 demonstration zones have played a leading role in promoting import facilitation and exploring new formats for the import trade.

The establishment of the national demonstration zones has further driven the country to adopt related policies to expand imports and market openness. For example, China has adjusted tariffs on 954 imported goods this year, and streamlined the work-flow of cross-border e-commerce retail imports.

Greater support for imports of advanced technology, important equipment and key parts and components has promoted the upgrading of the country's industrial structure. The expansion of such national demonstration zones will also help China strengthen trade promotion and innovation. Also, more countries and regions will share the opportunities of China's opening-up and development.