China (Guangdong) Pilot Free Trade Zone Nansha Area of Guangzhou has formulated 658 policy innovations since it was inaugurated five years ago, with 42 of them duplicated across the nation.
The innovations cover fields such as trade and investment, government service reform, opening-up in the financial services sector, cooperation with Hong Kong and Macao special administrative regions and an innovative industrial system, said Pan Yuzhang, deputy director of the administrative committee of the area.
The policy innovations concerning a novel cross-border e-commerce monitoring model, a government service website designed specifically for enterprises and a smart local financial risk monitoring platform are listed among the best practices in similar zones across the country by the Ministry of Commerce, Pan said at a news conference in Guangzhou on Tuesday.
Between 2014 and 2019, the gross domestic product and foreign direct investment utilization in Nansha district grew by 10.4 percent, and 13.2 percent on average respectively on a yearly basis.
The Nansha area of the Guangdong PFTZ will step up its efforts to explore reform and opening-up in fields including the modernization and capacity of the governance system, the technological innovation mechanism, healthcare, disease control and green and smart city, Pan said.
