Boost financial innovation to serve the real economy

The FTZ will expand the cross-border renminbi (RMB) business. It supports financial institutions in the zone lending short-term funds to Taiwan financial institutions. It also encourages financial institutions in Pingtan to carry out direct liquidation between RMB and Taiwan dollars on a trial basis, and allows the domestic foreign exchange accounts of overseas institutions to have time deposits.

It will boost the management facilitation of capital items. The capital item earnings of Taiwan-funded enterprises in the Fuzhou and Pingtan areas can be used for domestic equity investment and foreign exchange registration can be done in banks under the jurisdiction of the province's Administration of Foreign Exchange. The practice that foreign-invested enterprises with a high credit rating can settle foreign exchange inside the Xiamen area or pay directly on the basis of the enterprises' payment orders will be piloted in the area.

It will extend functions of non-resident accounts (NRA). Banks in the FTZ are trying to carry out business in money management, structural deposits, future foreign exchange settlement, and foreign exchange derivatives trading through NRA accounts.

Deepen cross-Straits cooperation

Taiwan-funded enterprises will enjoy treatment equal to that enjoyed by companies on the Chinese mainland involved in the medical treatment, tourism and biotechnology sectors. They can fairly participate in government procurement at all levels in Fujian province by using the Mainland Travel Permit for Taiwan Residents as proof of identity. Legal persons from Taiwan who want to set up enterprises in the FTZ in integrated circuits, high-end medical apparatus and instruments, precision machinery, cultural creativity or modern logistics will be eligible for support from the local government.

The FTZ plan encourages Taiwan compatriots to come to Fujian for employment and entrepreneurship. Taiwan professionals with practicing certificates in architecture, finance, medical treatment and tourism issued by appropriate Taiwan authorities can conduct corresponding business in the FTZ within the business scope of the certificates. It supports extending the range of application of tourist guide certificates for Taiwan compatriots from the FTZ to the whole province, and Taiwan residents to wholly fund and set up non-government and non-profit social service organizations in the FTZ.