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Xi'an FTZ implements innovative development

Updated: 2019-02-01

The Xi'an area of the China (Shaanxi) Pilot Free Trade Zone (FTZ) (excluding Xixian New Area) introduced 21,116 new market entities with a combined registered capital of 197.82 billion yuan ($29.51 billion) from January to December 2018.

By the end of 2018, all reform pilot tasks had been completed, resulting in 136 innovations. One of the innovations has been replicated and promoted nationwide, and six of them have been replicated throughout the province.


Xi'an FTZ attracts an increasing number of enterprises. [Photo/xiancn.com]

Through WeChat registration, the time for enterprises to register has been reduced to just three days.

With the "manifest merging", a new clearance model, going into effect in May 2018, the clearance time and fees for shipping bulk goods by rail has been reduced greatly.

With help from the People's Bank of China, the zone was able to provide small and micro-enterprises with less than 2 million yuan in pure credit, further improving financial services.