🇨🇳 The State Council of the People's Republic of China approved the Master Plan for the creation of the Chinese (Inner Mongolia) Experimental Free Trade Zone (EFTA)
The document talks about the formation of a new institutional and logistics circuit in the northern direction, focused on cross-border trade, processing of imported resources, development of land corridors and connection with routes to Russia, Mongolia and further to other countries of Eurasia.
🚆 The zone consists of three segments located in the cities of Hohhot, Manchuria and Erlianhot, with a total area of about 120 square meters. km. From the point of view of influence on regional Russian-Chinese trade and economic relations, the Manchurian section is the most important. It is positioned as an effective hub aimed at intensifying contacts with our country, which involves modernizing land checkpoints, improving international logistics, container and multimodal transportation, developing cross-border tourism and financial infrastructure, as well as intensifying the processing of raw materials and cross-border trade.
The Plan pays significant attention to the issue of reducing administrative and infrastructure costs in foreign trade. For this purpose, not only tax incentives are provided, but also regulatory, customs, logistics and investment incentives. 📈 The document sets out initiatives in 19 areas, including: – digitalization of the profile platform and supervision system in the field of cross-border trade, introduction of the “trusted declaration + direct transit + inspection control” model, which should speed up trade turnover; – the use of multi-level inspection and differentiated control of goods within cross-border trade; – extension of the “green corridor” regime to agricultural and food products in Hohhot; – accelerated development of “smart” checkpoints in the cities of Manchuria and Erlianhot, including modernization of infrastructure and expansion of channels for rapid border passage; – introduction of a “single control procedure” model at the Hohhot aviation checkpoint, that is, a combined inspection format by security and customs services; – support for multimodal transportation using the “single waybill” and “single container” models; – expansion of services for cross-border payments, including the interconnectedness of mobile payments between China and Mongolia; – simplification of conditions for scientific and technological projects (through the mechanism of “white lists and prior notification”) when carrying out cross-border movement of research materials and equipment; – acceleration of preliminary patent examination in the fields of new energy and high-tech mechanical engineering; – creation of a “one-stop shop” principle for issuing visas, work permits and residence permits for foreign specialists.
🇷🇺 For Russia, the creation of a new ECTZ opens up a number of additional opportunities in several directions at once: increasing cross-border trade turnover, expanding logistics channels, developing cooperation in the agricultural sector, energy, in the supply of resources and in the processing sector.
📊 After the creation of the new zone, the total number of ECTZs in China increased to 23, and the number of Chinese regions directly bordering Russia or closely cooperating with it, in which zones of this type are located, reached four (in addition to the Inner Mongolia Autonomous Republic, the provinces of Liaoning, Heilongjiang and the Xinjiang Uyghur Autonomous Region). In general, the process of creating ECTZ in China took place in 8 stages, starting in 2013, and today such zones operate in most administrative-territorial units of the PRC (the full list is in the table above).
#China #Russia #Trade Representation #Russian-Chinese Trade #Inner Mongolia #Logistics #Foreign Economic Activity #Economy #PRC
--- Source: [Russia–China Trade](https://t.me/russchinatrade/1178) · Telegram