China (Yunnan) Pilot Free Trade Zone Welcomes Foreign Investors
Posted Sep 21, 2022 16:34 (GMT +7)
KUNMING, China--(BUSINESS WIRE)--Sep. 21, 2022
Located in Yunnan Province in Southwestern China, China (Yunnan) Pilot Free Trade Zone has been attracting foreign investors with its proactive policies since its establishment in August 2019.
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Service Hall of Kunming Area of Yunnan Pilot Free Trade Zone (Photo: Business Wire)
The Yunnan Pilot FTZ is one of China’s first three FTZs located in China's border areas. It consists of three zones, namely the Kunming Zone, the Honghe Zone, and The Dehong Zone.
The Kunming Zone, located in Kunming City, has an area of 76 km2 (including the 0.58 km2 Kunming Comprehensive Free Trade Zone) and focuses on the development of high-end manufacturing, aviation logistics, digital economy, base for corporate headquarters, and other industries.
The Honghe Zone is located in Hekou County of Honghe Prefecture, Yunnan Province. It has an area of 14.12 km2 and focuses on the development of processing and trade, health services, cross-border tourism, and cross-border e-commerce.
The Dehong zone is located in Ruili City of Dehong Prefecture, Yunnan Province. It has a total area of 29.75 km2 and focuses on the development of cross-border e-commerce, cross-border production cooperation, cross-border finance, and other industries.
The Province of Yunnan is a gateway to Southeast Asia and South Asia, being situated at the meeting point of China and these two regions. The province boasts 26 ports, including 20 first-class ports and 6 second-class ports. Yunnan shares a border with Laos, Myanmar, and Vietnam, making it one of the Chinese provinces that borders with the most countries. Indeed, this strategic cross-border location that straddles multiple countries and regions is the biggest advantage of the Yunnan FTZ.
Since it was established, the FTZ has been fuelling the opening-up and development of the entire Yunnan Province. From August 2019 to July 2022, 56,000 new enterprises were set up in the zone, accounting for around 12% of the new enterprises set up in the province during this period. The total value of imports and exports from the FTZ in the same period was RMB 279.14 billion, accounting for almost a third of the foreign trade of the province, while actual foreign investment reached USD 587 million, or 28.7% of the actual foreign investment across Yunnan Province.
In recent years, Yunnan has continued to implement policies to boost investment in high-quality industrial development and further increased support for leading industries and new business models. Looking to the future, Yunnan Pilot FTZ will continue to engage in investment promotion and seek to attract major projects. It welcomes all foreign investors to explore the many advantages of Yunnan FTZ as a strategic investment site and looks forward to deeper win-win cooperation that can benefit both businesses and the local economy.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220920006031/en/
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