Introduction to China Industrial Parks 


FTZs

Free Trade Zones


Free Trade Zones (FTZs) were first established in Shanghai at the beginning of the 1990s. Originally, FTZs were designed to fulfill three functions: export processing, entrepot trade, logistics and bonded warehousing. Currently, this is the only form of development zone in which foreign trading companies can be registered (Hong Kong-based companies, owning to the CEPA agreement with mainland China, may face fewer restrictions). Companies in FTZs are eligible for tax refunds on exports, import duty exemption and lower value-added tax (VAT) rates. Currently, there are 15 FTZs in 12 coastal cities with total planned area of 43 sq km. Although they are small in size, FTZs played an important role in China’s experimentation with the concept of free trade prior to the country’s entry into the WTO.

 

State-level Free Trade Zones

 

Regin

Names of FTZs

Shanghai

• Waigaoqiao

Tianjin

• Tianjin

Liaoning

• Dalian

Shandong

• Qingdao

Jiangsu

• Zhangjiagang

Zhejiang

• Ningbo

Fujian

 

• Fuzhou

• Xiangyu (in Xiamen)

Guangdong

 

• Guangzhou

• Shantou

• Futian (in Shenzhen)

• Yantian (in Shenzhen)

• Shatoujiao (in Shenzhen)

• Zhuhai

Hainan

• Haikou

Source: China Knowledge

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