The Xiamen Area of China (Fujian) Pilot Free Trade Zone is set to prioritize four key areas over the next three years, according to a recent announcement by the Ministry of Commerce.
The first focus is on promoting the innovative development of the aviation economy. The Xiamen FTZ is aiming to foster the comprehensive aircraft lifecycle industry chain, establish a global hub for aviation maintenance services, and have more international flight routes.
Improving the digital BRICS+ trade system is the second priority on the list. The Xiamen FTZ will strive to transform itself into a model for digital trade and efforts will be made to explore the establishment of a digital trade public service platform and enhance the digitalization of customs supervision.
The third focus involves the establishment of a shared offshore trade information platform. The Xiamen FTZ plans to support financial institutions by providing reasonable credit limits to offshore trading enterprises and implementing supportive policies for offshore trade.
Lastly, the Xiamen FTZ is aiming to accelerate the construction of a demonstration zone for marine economic development. Market-oriented allocation of marine resources, innovation in financial services related to the marine sector, and the enhancement of the marine industry chain and supporting capabilities are among the key objectives. The region will also seek to drive innovation in marine environmental governance and ecological protection models.