The Qingdao Area of the China (Shandong) Pilot Free Trade Zone, or Qingdao FTZ, unveiled nine measures on April 17 to support the innovative growth of foreign trade enterprises, aiming to promote the stability, quality, and development of foreign trade.
These nine measures aim to boost the sustainable development of foreign trade enterprises, especially exporters, by focusing on tasks such as promoting trade development, assisting companies in expanding international and domestic markets, ensuring stable employment, and establishing an integrated service system.
Leveraging the digital warehouse public service platform, Qingdao FTZ will construct a "port warehouse - overseas warehouse" system to create new development pathways for domestic export enterprises, enhancing their competitiveness in the global trade market. By improving the international warehousing system, businesses can flexibly manage goods, reduce logistics costs, and improve trade efficiency.
Moreover, the zone encourages companies to participate in various exhibitions and obtain export credit insurance, while also facilitating the movement of business personnel to expand international operations. For enterprises maintaining stable employment in foreign trade industrial sectors, certain social security subsidies will be provided.
According to reports, in 2024, the zone's exports amounted to 64.72 billion yuan ($8.9 billion), marking a 26.7 percent increase. Specifically, exports to the Regional Comprehensive Economic Partnership countries grew by 24.6 percent, while exports to emerging markets saw a 19.2 percent increase.
The introduction of the new measures will help stabilize foreign trade imports and exports in the zone, providing a valuable test case for the national agenda of "boosting foreign trade and ensuring growth" in the face of a changing international environment.
Qingdao FTZ in Shandong unveils nine measures on April 17 to support the innovative growth of foreign trade enterprises, aiming to promote the stability, quality, and development of foreign trade. [Photo by Zhang Jingang/Guanhai News]
China (Shandong) Pilot Free Trade Zone Qingdao Area
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