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Fujian FTZ magnet for Taiwan businesses

April 26, 2018


Abstract : China(Fujian) Free Trade Pilot Zone is emerging as a hit destination for the Taiwan enterprises, owing to its increasingly efficient and law-based business climate, according to the FTZ regulators.

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BEIJING, Apr. 26 (Xinhua)--China(Fujian) Free Trade Pilot Zone is emerging as a hit destination for the Taiwan enterprises, owing to its increasingly efficient and law-based business climate, according to the FTZ regulators.

"It is our duty and feature to deepen cross-Straits economic ties," said, Liang Yong, deputy director of the administrative committee of Fujian FTZ.

Since the establishment in April 2015, Fujian FTZ has been pioneering the administrative system reform and innovation, thus further opening up its market to the island across the Strait.

The pilot zone, to date, has granted greater access for Taiwan businesses to its sectors, including tourism, medical treatment, creative culture and entertainment.

Statistics show that by the end of 2017, the Taiwan-funded companies registered in Fujian FTZ have surged from 43 (before the zone was set up) to 421.

Meanwhile, five entrepreneurship hubs, home to 200 startups for Taiwan youth, have also been established in the zone.

Fujian FTZ is also exploring opening up the financial service industry to Taiwan, as four Taiwan banks have operated their business in Fuzhou, the capital city.

A raft of preferential policies targeting Taiwan businesses has wide acclaim among the Taiwan communities.

According to Yang Zhengcheng, founder of Fujian Dehe Trading Co, a Taiwan-funded cosmetics developer and supplier, the policies, like streamlining certificate verification and exempting office rents, greatly highlight the geographical advantages Fujian bears with Taiwan and directly reduce their operation costs.

The system innovation in the zone has created a convenient ad high-efficient business climate for them, said Huang Tuozhong, general manager assistant of Kornerstone Materials Technology Co, a Taiwan display glass provider.

The streamlined cargo-clearance procedures expedite the imports to clear the customs in a day, a significant drop in time over the past, he said.

(Source: China Daily)

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Keyword: Fujian-FTZ

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