Xiamen FTZ signs 20b yuan in contracts at CIFIT
The Xiamen Area of China (Fujian) Pilot Free Trade Zone had major success during the 2019 China International Fair for Investment and Trade, which ran on Sept 8-11 in Xiamen.
The XMFTZ signed off on 60 projects, with a total investment of nearly 20 billion yuan ($2.82 billion), local media reported.
The projects mainly involved the fields of aviation services, shipping logistics, cross-border business, culture, film and television, financial services, the digital economy and corporate headquarters.
China's e-commerce giant JD.com Inc signed an agreement to launch its business in XMFTZ.
As part of its wider strategy of developing a global logistics supply chain for foreign trade, JD.com plans to build a supply chain services platform in Xiamen, according to an official of JD.com.
Since its establishment four and a half years ago, XMFTZ has become a new engine for the development of Xiamen.
To date, XMFTZ has launched a total of 391 innovative measures. Some 43,000 enterprises with a total registered capital of 620 billion yuan have settled in the zone.
Why Xiamen
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Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.