Foreign trade of pilot FTZ reaches 231 billion yuan

As of April this year, the Yunnan pilot Free Trade Zone (FTZ) has completed 231.695 billion yuan in foreign trade, accounting for 30.89% of the province's gross foreign trade in the same period, said a local commerce official on June 9.

Hengfeng Bank opens a branch in the Dehong area of Yunnan pilot FTZ on June 9. (Photo/Yunnan Daily)

The actually-used foreign capital was USD 575 million, accounting for 30.41% of the provincial total. 51,787 new enterprises were set up in the pilot FTZ, making up 12.94% of the province's total, according Li Chenyang, director of Yunnan Provincial Department of Commerce.

Huawei Technologies, Jingdie Software, Baidu and Vtion have been introduced to build up a cross-border power trading platform for south and southeast Asia. China Railway Construction, the CITIC Bank and Poly Group opened branches in the pilot FTZ.

  

Hengfeng Bank opens a branch in the Dehong area of Yunnan pilot FTZ on June 9. (Photo/Yunnan Daily)

Since its inception in August 2019, the Yunnan pilot FTZ has highlighted Yunnan's location advantages, stimulating creative vitality and focusing on institutional innovation in the province.

Reporting by Yang Ping (Yunnan Net); Trans-editing by Wang Shixue