The Fourth Anniversary of the Establishment of Yongkou Area of China (Liaoning) Pilot Free Trade Zone

On April 8th, the News Office of Yingkou Municipal People's Government held a press conference centered on Promoting Industrial Development with Institutional Innovation and the Fourth Anniversary of the Establishment of Yingkou Area of China (Liaoning) Pilot Free Trade Zone (hereinafter referred to as Yingkou Area).

The Executive Deputy Director of the Managing Committee of Yingkou Area Zhu Hengnan elaborated on how Yingkou Area has promoted industrial development with institutional innovation.

Yingkou Area of China (Liaoning) Pilot Free Trade Zone Photo: Sun Shenghui

April 10th, 2017 witnessed the establishment of Yingkou Area. The Area has been focusing on modern services like trade, commerce, transport, cross-border e-commerce and finance as well as emerging industries including the new generation of IT and high-end equipment manufacturing. After four years of reform and innovation, Yingkou Area has greatly improved its business environment, optimized its industrial structure and made impressive progress in promoting industrial development. 

Yingkou Area has remarkably improved the business environment to support the growth of companies at all stages of development. In most cases, an enterprise will get a business license within two hours and start operation within half a working day. The innovative procedures have added 83 items that could be reviewed without meeting in person. Up to know, a total of 388 items could be reviewed in such a simple way. In most cases, an industrial project will start and be delivered as soon as the land is in place, and 40 days is enough to complete the whole-chain review procedures for construction.

Yingkou Area has also highlighted inclusiveness, prudence, honesty and fairness in its laws and regulations in order to stimulate the vitality of the market participants. Moreover, it has enhanced the effectiveness of supervision by analyzing both the safety risks facing enterprises and their credit ratings. 

In addition, Yingkou Area has advocated honesty throughout by setting a good example. The local government has built a platform for keeping its promises in policy implementation. The promises will be fulfilled every month even if the parties cannot meet in person. So far, the enterprises have received a total of policy funds reaching about CNY 700 million in value.