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Free trade zone in SIP enhances reform to explore new development patterns

Date:2021-08-26 10:15|Source: |Visits:

The State Administration of Foreign Exchange issued a notification in March to support China (Jiangsu) Pilot Free Trade Zone Suzhou Area to develop new-type offshore trade. The FTZ is now building the country’s first comprehensive service platform for new-type offshore trade.

At the same time, the FTZ is taking the lead nationwide to promote the development of service-oriented manufacturing, an innovative manufacturing mode featuring fusion of product manufacturing and services for clients. The business scale in related sectors in the FTZ has expanded by 180% year-on-year since the beginning of this year.

On the other hand, the FTZ encourages enterprises to use advanced information technology to facilitate trade. For example, a cloud-based manifest sending system adopted in the FTZ can help enterprises greatly save time and cost.