The China (Hunan) Pilot Free Trade Zone (FTZ) initiated a call for "golden ideas" in development from global advisors on November 15, 2023. Units, teams, and individuals are welcomed to make suggestions from November 15 until January 14, 2024. The provincial free trade office will organize experts, scholars, and enterprise representatives to select 10 winners, with the highest cash award of 200,000 yuan.

Hunan FTZ has been approved for construction over three years, forming 84 characteristic institutional innovation results. It has attracted more than 35,000 newly-founded enterprises and introduced 342 major projects. Its cumulative foreign trade value neared 550.8 billion CNY, and actual utilization of foreign capital reached 874 million USD, playing a leading role provincewide.

The idea collection focuses on aligning with international economic and trade rules at a high standard, deepening institutional opening up, strengthening overall planning and system integration of reform and innovation, and promoting the innovative development of the whole industrial chain. It aims to accelerate formation of the "one industry, one park, and one corridor" strategic advantages, further playing the demonstration, leading, and driven role of Hunan FTZ. The submission requires highlighting Hunan characteristics, adhereing to a problem orientation approach, and focusing on major breakthroughs.

The event will award 10 winners, including two first prizes of 200,000 yuan each, three second prizes of 100,000 yuan each, and five third prizes of 50,000 yuan each. The provincial free trade office will give priority to the idea submitters to continue to enhance the study on program implementation, striving to effectively transforming "golden ideas" into "golden results".

This article is from the Hunan Provincial Government www.enghunan.gov.cn.

Translator: Yu Jiangjiang

Chinese source: Voice of Hunan