Tianjin also plans to be a free trade zone IBUonline is a B2B foreign trade platform which has helped many China suppliers and international buyers. In foreign trade industry IBU found Tianjian and Xiamen are planning to be a free trade zone after Shanghai free trade zone was established. Tianjin, for its part, expressed its intention of building up an FTZ long before China became a member of the World Trade Organization, which was in 2001. The Tianjin Bonded Logistics Park obtained approval from the State Council in August, 2004. Ever since its dry run in May 2005, domestically made goods have been given tax reimbursement once they entered the park. Authorities at the Dongjiang Free Trade Port Zone of Tianjin have aimed to transform the port into an FTZ, focusing on financial leasing, offshore finance and international shipping. Yu Rumin, chairman of Tianjin Port Holdings Co Ltd, said during the “two sessions” (dual leadership meetings) of 2011 that “setting up a free trade zone based on the Dongjiang Free Trade Port Zone will be an effective way for Tianjin to further open up”. Shenzhen has sought to expand its FTZ over the years. It was the first Chinese city to establish a free trade zone.
Posted on: Tue, 16 Jul 2013 09:32:27 +0000
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