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Nansha selected as demo zone on import promotion
Update: 2020-11-06     Source: chinadaily.com.cn

Guangzhou's Nansha district has been selected as one of 10 import trade promotion and innovation demonstration zones, authorities announced ahead of the opening of the third China International Import Expo on Nov 4.

From January to September, the total import and export value in Nansha reached 175.04 billion yuan ($26.32 billion), a year-on-year increase of 21.1 percent, ranking first in Guangzhou in terms of growth rate.

With such a good development momentum, Nansha will undertake the task of promoting trade and facilitating innovation in trade, the two major functions Nansha and other demonstration zones are required to have, according to Li Xingqian, director of the Department of Foreign Trade of the Ministry of Commerce.

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Guangzhou's Nansha district has been selected as one of 10 import trade promotion and innovation demonstration zones.

Trade promotion will facilitate import, industries, and consumption while trade innovation will focus on the aspects of policies, related services, and models.

In the next three to five years, China will cultivate a number of import demonstration zones with innovative regulatory systems, complete service functions, and flexible transaction models, to steadily expand China's import scale and optimize its import structure.

In addition to Guangdong, the zones will be set up in Shanghai, Liaoning, Jiangsu, Zhejiang, Anhui, Fujian, Shandong, Sichuan and Shaanxi. They will cover the eastern, central and western regions as well as the old industrial bases of Northeast China, and include sea, land and air ports, reflecting the power and potential of China's import development.

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