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Guian approved to be key area for further innovative development

Updated : 2018-10-10 Print

Guian New Area in South China's Guizhou province has recently been approved by China's State Council for deepening trade-in service innovation development, together with 16 other zones across China, including Xiongan in Hebei province and Liangjiang in Chongqing municipality. 

The period for the trial deepening will start in July and run for two years. The selected zones will be developed into innovation centers, with sectors addressing topics from policies to investment conditions.

The four sectors of finance, telecommunication, tourism and professional services will receive key support from this new approval, based on development base, industrial structure and resource advantages. 

New emerging services will be key to receiving further openness in these zones. Restrictions impeding the development of cross-border payment and overseas consumption will be gradually eliminated while improvements to the present public service platforms will be made to increase efficiency and to expand domestic enterprises for business abroad. 

Preferential policies will be offered to encourage increased export and to expand financial channels and foreign exchange management. 

Management systems will be further improved to strengthen the trade-in service decision-making ability and a development evaluation system will be established to assess the effects. Statistical monitoring systems will be developed through the application of big data and cloud computing.

A number of special export services will be created to support logistics, R&D, design, maintenance, trade distribution and exhibition. Digital applications will be heavily used to improve the model and quality of service. These changes will improve convenience in clearance, cross-border payment, visa service, tourism, and talent recruitment.