Yiwu Pilot Zone Regulations to be Implemented in 2020

On December 24, the Information Office of the People's Government of Zhejiang Province did a press release of its Regulations on the International Trade Comprehensive Reform Pilot Zone of Yiwu (hereinafter Regulations), which will be implemented beginning on January 1, 2020.

Focusing on the core of trade liberalization and facilitation, the Regulations has raised the standards and requirements in optimizing management systems, promoting industrial transformation, facilitating trade, strengthening financial services, and building a business environment. In addition, it helps to support and construct the Pilot Zone of Yiwu at a higher level and with better quality. It is also conducive to expanding the positive influence of International Trade Comprehensive Reform Pilot Zone of Yiwu by leading and promoting industrial upgrades, technological innovation, and the reform of the system and organization of the province.

In accordance with the Regulations, the Pilot Zone of Yiwu refined the 63 task arrangements of the five major sections to better tackle specific responsibilities. It takes the advantages of the Pilot Zone of Yiwu, strengthens regional production capacity, builds up Yiwu as the small commodities capital of the world, accelerates the construction of the Jinyi New Urban Area, contributes to the “two high-level constructions” (the standard that, by 2020, a well-off society will be built at a high level, and on this basis, socialist modernization will be advanced at a high level) of Zhejiang Province, and plays a part in a new round of reform and opening up. 

(By Gong Xiyan, translated by Zhang Jiajia, edited by Kendra Fiddler)