Xiamen opens new industrial park to gear up trade in services
The opening ceremony of the Xiamen FTZ's international industrial park for trade in services is held in Xiamen, Fujian province. [Photo/WeChat account: xiamen_swj]
An opening ceremony was held in Xiamen, Fujian province on Feb 25 to unveil the Xiamen Area of China (Fujian) Pilot Free Trade Zone's international industrial park for trade in services.
The 5.4-hectare industrial park will be divided into three phases, with the 1.75-hectare first phase mainly aimed to gather resources and entrepreneurs, offer all-around services, and boost transformation of the achievements of innovation and entrepreneurship.
The first phase will be built into a start-up base for trade in services, a financial base for the service industry, an exhibition center for quality companies, and an incubator for service companies to further gear up the development of Xiamen's trade in services industry.
Xiamen is a national pilot for the innovative development of trade in services and a national demonstration city for service outsourcing, said Zhang Fengqing, second-level inspector of the municipal bureau of commerce.
The city has made progresses in the development of trade in services in recent years as it boasts characteristic bases like the national cultural export base and the national digital service export base, Zhang said.
Statistics showed that the city achieved 65.53 billion yuan ($10.38 billion) in the total import and export volume of trade in services in 2021, an increase of 38.3 percent from that in 2020.
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.