A total of 33 institutional innovations have been created in the Hunan Pilot Free Trade Zone Changsha Area (Changsha Area for short) since the area’s establishment over a year ago, bringing many benefits to enterprises. This was learned from a free trade tour event for business associations, chambers of commerce, and private enterprises on June 7.

Representatives of Changsha’s chambers of commerce in Beijing, Xi’an and other places, as well as more than 30 local private entrepreneurs, visited the China-Africa Economic and Trade Cooperation, Promotion, and Innovation Demonstration Park in the Yuhua Block of Changsha Area. They learned about the area’s investment environment and supporting facility construction progress.

Changsha Area covers an area of 79.98 square kilometers, including five blocks -- Changsha Economic and Technological Development Zone, Changsha Airport Economy Demonstration Zone, Changsha Convention and Exhibition New Town, Yuhua, and Furong. Over the past year, 33 institutional innovations such as the new mode of integrated development of the international mail, international express, and cross-border e-commerce business have been made in the area. This has brought many benefits to enterprises in the fields of investment and trade facilitation and financial service efficiency.

From January to April this year, Changsha Area’s total import and export volume reached 31.217 billion yuan, up 9.78% year-on-year, accounting for 35.2% of the city's total. The growth rate was 4.28 percentage points higher than that of the city. High-end manufacturing, airport economy, convention and exhibition services, China-Africa trade and economic cooperation, and seed industry are flourishing here.

Changsha Area can better meet the development needs of enterprises with support from functional platforms including the Changsha Economic and Technological Development Zone, the Changsha Huanghua Comprehensive Bonded Zone, the Changsha Comprehensive Cross-Border E-Commerce Pilot Zone, and the market procurement trade pilot program.

Source: en.changsha.gov.cn