China's Chongqing FTZ sees booming market entity registrations

CHONGQING, April 1 (Xinhua) -- The pilot free trade zone (FTZ) in  southwest China's Chongqing Municipality has recorded booming market  entity registrations over the last four years, with emerging industries  accounting for the lion's share, according to the municipal commission  of commerce.

Over 50,000 enterprises have been established in the Chongqing pilot  FTZ since it was established in 2017, said Zhang Zhikui, director of the municipal commission of commerce, at a press briefing on Wednesday.

More than 75 percent of the newly registered enterprises are engaged  in the transport, information transmission, software and information  technology services, and high-tech industries, Zhang added.

The Chongqing pilot FTZ is now home to one-fourth of the  municipality's foreign trade firms, contributing approximately 70  percent of its foreign trade volume and attracting over 40 percent of  foreign direct investment.

The municipality was in February approved as a port of entry for  imported drugs. It is the only such entry port in west China and the  fourth in the Chinese mainland following Beijing, Shanghai and  Guangzhou.

It was also added to a list of China's border ports which allowed  eligible international travelers in transit to avail of a 144-hour  visa-free stay in 2019. Enditem