BEIJING, June 5 (Xinhua) -- As the first pilot free trade zone in north China, China (Tianjin) Pilot Free Trade Zone (Tianjin FTZ) has gained remarkable achievements since it was launched on April 21, 2015.
"The number of newly registered market entities in Tianjin FTZ has reached 45,000, with a total registered capital of 1.6 trillion yuan,” said Yang Maorong, deputy director of Management Committee of Tianjin FTZ.
According to Zhao Haishan, director of Management Committee of Tianjin FTZ, Tianjin FTZ, with an area covering 1 percent of the city, creates about 12 percent of the city's GDP and nearly 10 percent of the general budget revenue, attracts a quarter of the foreign capital actually used and accounts for a third of the import and export volume.
At present, Tianjin FTZ has adopted 30 new measures on financial reform and management, and has fully implemented the management pattern of negative list. 2,119 foreign-invested enterprises have been established in Tianjin FTZ since it was launched, with a total registered capital of 398.5 billion yuan.
By 2020, Tianjin FTZ will form a legalized, internationalized and convenient business environment, build an open economic system and a demonstration zone for coordinated development of Beijing, Tianjin and Hebei.
(Contributed by Tong Wei, tongwei@xinhua.org, edited by Zhang Aifang, zhangaf@xinhua.org)
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