Economical Funtions

According to relevant regulation of P.R.C., Fuzhou Free Trade Zone mainly have three functions, that are international trade, export processing, bonded storage..

International trade:
Fuzhou Free Trade Zone allows either Chinese funded enterprinses, or foreign funded enterpinses to set up trade corporations in free trade zone, to manage and develop international trade, trading to Taiwan, transit trade, entrepot trade and develop import and export trade according to relevant regulations of P.R.C.. Goods may be in and out freely between free trade zone and outside the boundary of the country, may spread freely with in the free trade zone, Enterprises in free trade zone may develop large import and export free trade productive material trade business, to hold large international commodities exhibition and meeting of product introduction.

Export processing:
Fuzhou Free Trade Zone is both trade zone and processing zone, is the economic area of the combination of traditional free trade zone and modern industry zone. Both Chinese funded enterprises and foreign funded enterprises may make use of the superiority of convenient transportation, low taxation goods in and out freely convenient international settlements and the superiority outside the zone ---Fuzhou economic and technological development zone on which the free trade zone bestow, through ten years construction, creating goods transport facilities, fast communication, sufficient water and electricity, efficient service, to set up export processing enterprises, the machinery device and raw material, components, semi--manufactuied goods which processing need, may be organized in from international market , or from non-free trade area of China as well, the processing pattern of the enterprises, may be enterprises self-processing, may also be entrusting enterprises with in free trade zone to help process, or entrust enterprises with processing conitions in non-free trade zopn to take the place of that, Foreign funded enterprises establish productive processing enterprises in free trade zone, the product sale does not set up ratio sale between domestic and abroad, need not carry out banking bail subsidiary accounts.

Bonded Storage:
Fuzhou Free Trade Zone is an international free trade storage zone, goods transport from the boundary of the country into the zone and transport from zone to abroad, is exempted from quota limit, is duty exempt and exempted from value-added tax, the commodities are in free trade state. Enterprises in free trade zone may engage in entrepot trade, transit tiade, import and export goods bonded storage business; may organize commodities of various country of the world to be exhibited in Fuzhou Free Trade Zone, bonded storage, wait and see quatations on the markets, wait for an oppotunity to promote the sale of goods, may continuous provide the goods supplies of bonded productive material for enterprises of non-free trade zone, exempt prevent the trouble and toilsome of searching for goods source, organizing purchase, run about handling formalities which are waste time, strength and money business for foreign funded enterprises, foreign enterprises, joint ventures, "coming raw material processing, coming spase parts installation coming sample processing, compensation trade" enterprises in non-free trade zone.

Begining from this year, Chinese foreign economy and trade policies carry out a series of adjustment and reform: reduce import tariff, rescind the preferential policies of tax reduction to foreign funded enterprises, carry out banking bail account system of industry and trade enterprises. Because the original policies of free trade zone are in line with the international practice, the Central committee of P.R.C.decide to maintain them. Thus it can be seen, the policy superiority of free trade will become an elegant branch of the reforms and opening to the outside world of China, free trade zone becomes the special area of our country to retain every preferential poliaies. According to the proctical conditions of free trade zone, we make a preliminary programme and design to the development stategy of Fuzhou Free Trade Zone, plan to construct Fuzhou Free Trade Zone into "import goods distributing center, export goods transfering center, international commodities exhibit center, free trade product processing center, trade to Taiwan transaction center, international commodities storage center, international information center".


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Fuzhou Free Trade Zone Administration Committee,P.R. of China
E-mail:mwwlzx@public.fz.fj.cn
Contact Person: Wang Hong