Shanghai and 5 other free trade zones, as well as Hainan Free Trade Port, have taken the lead in testing and actively connecting with CPTPP and DEPA rules | State Council | Shanghai
Recently, the State Council issued the "Several Measures for Pilot Connection with International High Standards and Promoting Institutional Opening in Conditional Free Trade Pilot Zones and Free Trade Ports". At the routine policy briefing held by the State Council today, Assistant Minister of Commerce Chen Chunjiang mentioned that taking the lead in pilot projects in five eligible free trade zones, including Shanghai, Guangdong, Tianjin, Fujian, and Beijing, as well as the Hainan Free Trade Port, will explore a path for comprehensively deepening reform and expanding opening up, and provide practical support for promoting accession to high standard economic and trade agreements.
Chen Chunjiang said that China is actively promoting its accession to high standard economic and trade agreements such as the Comprehensive and Progressive Trans Pacific Partnership Agreement and the Digital Economy Partnership Agreement. The requirements of relevant rules are in line with the key issues facing China's reform and opening up. Proactively connecting pilot projects in conditional free trade pilot zones and free trade ports, taking the lead in aligning with international standards in terms of rules, regulations, management, and standards, and building an institutional system and regulatory model that is in line with international high standard economic and trade rules, will accumulate favorable conditions for China to participate in the formulation of international economic and trade rules.
Chen Chunjiang stated that the pilot measures implemented in conditional free trade pilot zones and free trade ports are a pioneering attempt to actively connect with the CPTPP rules. On the one hand, we will actively promote institutional innovation, take the lead in building an institutional system and regulatory model that is connected with high standard economic and trade rules, and demonstrate China's willingness and ability to join high standard economic and trade agreements. At the same time, we will also accumulate experience through pilot projects to fully prepare and provide practical support for China's accession to these agreements.
It is reported that the "Several Measures" focus on six aspects, including goods trade, service trade, temporary entry of business personnel, digital trade, business environment, and risk prevention and control, and propose pilot policy measures and risk prevention and control measures.
In terms of promoting the innovative development of goods trade, measures include conducting pilot projects for the import of remanufactured products in key industries, exempting tariffs on aircraft and ships that are temporarily repaired and transported back to Hainan Free Trade Port, temporarily not paying tariffs, import value-added tax and consumption tax for specific goods upon temporary entry, making decisions on extension applications as soon as possible before the expiration of the pre ruling validity period, and implementing supplier self declaration for imported information technology equipment products that meet relevant standards.
In terms of promoting the freedom and convenience of service trade, measures such as making a decision on financial institutions applying for relevant financial services within 120 days in accordance with the principle of internal and external consistency, allowing foreign financial institutions to provide new financial services similar to those of Chinese financial institutions, allowing relevant enterprises and individuals to legally purchase certain types of overseas financial services across borders, and establishing and improving procedures for evaluating the capabilities of overseas professionals.
In terms of facilitating the temporary entry of business personnel, measures include allowing the accompanying spouses and family members of foreign investment enterprises to have the same entry and temporary stay period as the expert, relaxing the entry and temporary stay period for relevant senior management personnel and accompanying spouses and family members of foreign enterprises.
In terms of promoting the healthy development of digital trade, measures such as improving the system for protecting the rights and interests of consumers in online consumption activities, and prohibiting relevant departments and their staff from requiring the transfer or acquisition of mass market software source code as a condition for import sales, etc.
In terms of increasing efforts to reform the business environment, specific measures will be taken to optimize the business environment in areas such as government procurement, intellectual property, competition policy, and environmental protection.
In terms of establishing and improving risk prevention and control systems, measures include establishing and improving major risk identification and systematic risk prevention systems, improving safety assessment mechanisms, strengthening risk prevention and resolution, implementing risk prevention and control responsibilities, and strengthening pre -, mid -, and post event supervision.
Next, the Ministry of Commerce will actively promote the implementation of the Several Measures in collaboration with relevant departments and localities. After one year of pilot implementation, the Ministry of Commerce will organize an evaluation according to the deployment, and pilot measures that meet the conditions will be promoted to other free trade pilot zones, and stress testing will be carried out on a larger scale.
