On February 21, the Information Office of Shandong Provincial Government held a press conference in which the Plan on Deepening Reform and Innovation of China (Shandong) Pilot Free Trade Zone was released and interpreted. The plan has listed a total of 140 tasks, 89 of which are assigned to the Qingdao FTZ. As planned, the Qingdao FTZ will launch five campaigns to stride towards “2.0 version”.

Build a main front for integrating shipping, trade and finance. Implement tax refunding policies in ports of departure, try to reform international vessel registration systems, deepen piloting the system of integrating domestic and foreign currency bank accounts, capital pool of domestic and foreign currency integration for transnationals, facilitation for top trade-oriented enterprises in foreign exchange receipts and payments, and continue to facilitate shipping, trade and finance in the Qingdao Area.

Build a new hub for opening and cooperation. Diversify the functions of Japanese and German international business clubs in Qingdao, try to set up an alliance of entrepreneurs from China, Japan and South Korea, expand economic and trade cooperation with Japan, South Korea and Germany, open foreign trade shipping routes to ASEAN, bolster cooperation with the RCEP signatories; advance the interaction of “digital warehouses + overseas warehouses” and establish public overseas warehouses for tires and auto parts.

Build a demonstration area for differentiated development. Improve the functions of new-type trade service platforms as “Li An Da” (offshore trade service) and “Yi Huo Da” (barter trade service), score innovative achievements in terms of offshore trade data verification and barter trade process regulation, and boost new modes of trade; carry forward the industrial ecology for commodities featuring “digital warehousing, transaction and finance”, and further the competitiveness in international trade.

Build a cluster area of high-end industries. Expand the new-generation IT industry and build faster the integrated circuit industrial park; seek presence in the gene science and technology industry, ramp up technological research of edible crops, marine biological gene editing and breeding, promote the iteration of gene sequencing products; Increase the strength of intelligent manufacturing, rapidly seek presence in futuristic industries and edge-cutting technologies, and cultivate upstream and downstream industrial ecology.

Build a source of scientific and technological innovation. Explore construction of a pilot zone for free sci-tech innovation, construct a tier-based system of sci-tech innovator cultivation; set up platforms for international technological transfer, facilitate commercialization of transnational technological achievements. Upgrade incubation carriers, promote the extension of emerging industries like chips, electronic appliances and new materials towards high-end crafts.  (Wang Kai)

An aerial view of Qingdao FTZ.