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On 21 June 2019, the First Forum on China Pilot Free Trade Zone Development was held in Wuhan. More than 400 participants including representatives of the CPPCC, the Ministry of Commerce of China, the People’s Government of Hubei Province, diplomatic missions in China, international organizations, pilot free trade zones in China and enterprises, as well as experts and scholars attended the forum. Mr. Chen Dehai, Secretary-General of ASEAN-China Centre (ACC) attended and addressed the event.
Mr. Fang Aiqing, Deputy Director of the 13th CPPCC Committee for Economic Affairs said in his remarks that over the past five years, with the reform of delegating power, improving regulation and upgrading service, the pilot free trade zones have achieved substantial results in establishing an investment and trade system that is in line with international norms, speeding up the transformation of government functions and building a new open economy. The pilot free trade zones should focus further on system innovation, promote stress test for further opening up, serve the country’s major strategy and achieve high-quality economic development.
Mr. Huang Chuping, Member of the Standing Committee of the CPC Hubei Provincial Committee, Executive Vice Governor of Hubei Province warmly welcomed the guests. He said that the Hubei Pilot Free Trade Zone focuses on system innovation while continuously promoting trade and investment liberalisation and facilitation. The pilot free trade zone serves as a platform for Hubei Province to engage in BRI cooperation, and make itself a new highland for inland opening to the outside world.
Mr. Devanand Ramiah, UNDP Acting Resident Representative in China said that China’s reform and opening-up has promoted economic transformation, achieved sustainable development, and provided important opportunities and valuable experience to other countries.
Mr. Chen Dehai, Secretary-General of ACC said in his remarks that the upgraded ASEAN-China Free Trade Area has become the largest FTA among developing countries, where over 90% of goods have realized zero-tariff. ASEAN-China economic and trade cooperation has effectively promoted economic and social development and brought tangible benefits to two billion people of both sides, laying a solid foundation for future cooperation in various fields. ACC will continue to support pilot free trade zones in China to carry out practical cooperation with ASEAN countries and promote ASEAN-China strategic partnership to a new level.
At the forum, guests from home and abroad made keynote speeches on the experience of developing free trade zones and the innovation and development of China pilot free trade zones. Chinese Academy of International Trade and Economic Cooperation released the Report on the Development of China Pilot Free Trade Zones. Agreements on cooperation projects in China (Hubei) Pilot Free Trade Zone were also signed at the forum.
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