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Hangzhou strives to build a digital free trade zone with distinctive recognition

   2022-10-17 8160
By 2025, Hangzhou will strive to achieve the revenue of enterprises in the core industries of the digital economy above designated size of 2 trillion yuan, the volume of digital trade of 500 billion y

By 2025, Hangzhou will strive to achieve the revenue of enterprises in the core industries of the digital economy above designated size of 2 trillion yuan, the volume of digital trade of 500 billion yuan, cross-border RMB settlement of 1 trillion yuan, and the added value of the financial industry of 280 billion yuan, and initially build a digital free trade zone with distinctive recognition.


Recently, the press conference on the construction of Zhejiang Pilot Free Trade Zone was held. The head of Hangzhou Municipal Bureau of Commerce (Free Trade Commission) introduced the latest measures taken by Hangzhou in building a digital free trade zone:


Hangzhou will successfully hold the first Global Digital Trade Expo with "one shot", strive to build a digital industry cluster, a digital financial innovation zone, a digital logistics pilot zone and a digital regulatory benchmark zone, build a "five major" system of digital trade industry, platform, ecology, system and supervision, and build ten major achievements, including a world-class cross-border e-commerce demonstration center, a global cross-border payment highland, and a demonstration highland for comprehensive development and utilization of data, Provide replicable experience for the country to formulate rules in the field of digital economy.


Since the expansion of Zhejiang Pilot Free Trade Zone, Hangzhou has focused on the functional positioning of "three zones and one center", actively played the role of Zhejiang as the main force in building a global digital trade center, and enabled high-quality development of the city with the pilot free trade zone. As of July this year, Hangzhou Free Trade Zone, with only 0.22% of the city's land area, has contributed 28.4% of the city's actually utilized foreign capital, 18.1% of its total foreign trade imports and exports, and 8.9% of its tax revenue. In the past two years, four achievements of Hangzhou Free Trade Zone have been selected as national level cases, and 13 achievements have been selected as provincial system innovation best cases.


Hangzhou focuses on leading industries such as artificial intelligence, cross-border e-commerce, digital economy, financial technology, etc., speeds up the construction of the pilot free trade zone, gathers 36% of the province's AI core enterprises, one-third of the province's well-known cross-border e-commerce export brands, two-thirds of the country's export retail platforms, and 70% of the country's cross-border e-commerce payment transactions. From January to July this year, driven by the pilot free trade zone, Hangzhou's digital trade volume accounted for 41.8% of the province's total, the added value of the core industries of the digital economy accounted for 54.8% of the province's total, and cross-border RMB settlement volume accounted for 54.5% of the province's total.


In Hangzhou, a large number of innovative and differentiated pilot reform experiences of the pilot free trade zone have emerged, and the digital epidemic prevention platform of "epidemic intelligent control" of the airport has been initiated and promoted nationwide; It pioneered the mode of "data intellectual property certificate and pledge financing", and five enterprises have accumulated more than 20 million yuan of financing; Build the first "cross-border import overdue return center" pilot in China, and improve the supervision capacity of the Comprehensive Bonded Area from 50000 to 300000 pieces of imported returned goods per month by means of "online code assignment"; The customs innovated the intelligent supervision of the "future factory bonded warehouse", built the application scenario of warehousing code scanning, remote inventory and outbound traceability, and improved the material turnover efficiency by more than 50%, which can help enterprises save 60 million yuan of operating costs a year; The pilot joint supervision mechanism for entry special goods has become the second pilot area in China.


At the press conference, the Provincial Free Trade Office introduced the ten landmark achievements created after the expansion of Zhejiang Pilot Free Trade Zone. Hangzhou gave full play to the advantages of the pilot free trade zone, made new breakthroughs in the construction of the pilot free trade zone, made significant progress in the construction of the global digital trade center, the birthplace of global digital change was taking shape, the pilot digital RMB was launched, and the global layout system of overseas warehouses was initially formed. Among them, since the integration of local and foreign currency bank settlement accounts into the first batch of pilot projects nationwide, 19800 new accounts have been opened in Hangzhou, handling 2.3 trillion yuan of RMB capital receipts and payments and 10.719 billion dollars of foreign currency capital receipts and payments. Hangzhou Free Trade Zone has set up the first data security laboratory in the province and launched Zhejiang Data International Trading Platform and Hangzhou International Digital Trading Platform. From January to August this year, the trading scale of provincial and municipal platforms has exceeded 84 million yuan.


 
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