Title: “Exploring the Xiamen Area of China (Fujian) Free Trade Zone: Steady Progress in Institutional Opening”
On a clear autumn day in Xiamen, Fujian, the atmosphere is vibrant at the comprehensive service hall of the China (Fujian) Free Trade Zone Xiamen Area, where customs clearance and business registration services are running smoothly.
On October 16th, President Xi Jinping visited the Xiamen Area of the Free Trade Zone, where he toured the achievements exhibition and received updates on local efforts to expand reform and opening up, as well as explore new pathways for cross-strait integration. He interacted with the staff at the service hall, emphasizing the need for Fujian and Xiamen to adapt to evolving conditions and steadily promote institutional openness, targeting international high standards and achieving concrete outcomes that contribute to expanding high-level foreign engagement.
The free trade zone is designed for bold experimentation, autonomous innovation, and significant ventures.
Since its establishment, the Xiamen Free Trade Zone has been making steady progress in institutional openness, particularly in institutional innovation, yielding impressive results.
On October 17th, a plane took off from Xiamen Gaoqi International Airport, carrying goods exported to São Paulo, Brazil.
“From the moment the cargo arrives at the station to clearance and release takes less than half an hour,” said Yan Weirong, Deputy Director of the Information Service Center of the Xiamen Free Trade Zone Management Committee. He explained that businesses can log into the Xiamen International Trade “Single Window” BRICS service section, access the air cargo electronic platform, and submit applications to achieve integrated customs and logistics services.
The Xiamen International Trade “Single Window” BRICS service section is the first national public service platform dedicated to trade within BRICS countries. “To better facilitate trade with BRICS countries, we’ve enhanced the BRICS section of the original ‘Single Window’ platform to streamline processes for businesses trading with these nations, improving efficiency,” Yan stated.
“We plan to expand the functions of the BRICS service section, launching additional applications based on the needs of businesses to support high-level external opening,” he added.
The ever-evolving “Single Window” is a reflection of the Xiamen Free Trade Zone’s commitment to ongoing institutional innovation. Since its inception, the zone has introduced a total of 606 innovative measures, including 142 that are nationally pioneering, and 31 reform pilot experiences that have been replicated nationwide.
As Xiamen continues to enhance its level of foreign investment and trade facilitation, the establishment of the Xiamen Free Trade International Fund Port in September marked another significant milestone. With 15 funds and one fund pool signed for residency, amassing an impressive total of 38.1 billion yuan and 13 financing lease projects combined with 16.76 billion yuan invested, the fund port emphasizes the zone’s innovation in cross-border finance.
“The Fund Port highlights the cross-border financial innovation of the Free Trade Zone, attracting plenty of foreign service capital and facilitating investment in enterprises that support international business development,” said Zhang Lin, a financial innovation specialist from the management committee, noting the influx of inquiries from financial institutions seeking to collaborate or establish a presence.
“Moving forward, we plan to launch a global investment and merger online project library, offering diverse and multifaceted information for both investor and venture needs, ultimately promoting a mutual engagement between financial capital and the real economy,” Zhang explained.
Emphasizing development through openness, the Xiamen Free Trade Zone is continually enhancing its cross-border financial service capabilities and has been approved as one of the five new offshore international trade pilot areas in the country, successfully facilitating over 72 billion dollars in new offshore trade activity.
Xiamen aims to be the premier base for Taiwanese individuals and enterprises while exploring new pathways for cross-strait integration, leveraging its unique advantages.
At the Smart Innovation and Connectivity Taiwan Youth Entrepreneurship Base in the Xiamen Free Trade Zone, 1983-born Taiwanese entrepreneur Zhu Guanyu is a founder of this initiative designed specifically to support Taiwanese youth in their entrepreneurial endeavors.
“Fujian and Taiwan are mere miles apart, attracting many young people from Taiwan to start businesses here. In the past, young entrepreneurs faced numerous challenges due to a lack of experience,” Zhu mentioned. “Why not create a startup hub?” This question emerged during a discussion with officials from the Xiamen Free Trade Zone, leading to a swift agreement.
In September of this year, the Smart Innovation and Connectivity Taiwan Youth Entrepreneurship Base was officially launched. It currently houses 21 companies, attracting nearly 30 Taiwanese young entrepreneurs. “At the entrepreneurship base, if someone lacks a career direction, we provide internship opportunities; if they have technology and products, we offer a platform for them to launch; and if they need financing and legal support, we assist each other and share resources,” Zhu explained.
“I will strive to develop and manage the base effectively, helping Taiwanese youth who come to Xiamen realize their entrepreneurial dreams and contributing to the cultural exchange and integration across the strait,” Zhu added.
With over 50 areas, including finance and culture, opening up to Taiwan, there are now more than 1,200 registered Taiwanese-invested companies in the zone. Two national-level Cross-Strait Youth Entrepreneurship Bases have been established, further complemented by the Taiwan Business Development Service Center, which provides Taiwanese individuals with employment, entrepreneurship support, and policy consultations.
By leveraging its geographical advantages, the zone is continuously taking new steps toward exploring pathways for cross-strait integration.
