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China offer Foreign Investment in Yunnan

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Newsnow Desk: The Yunnan Provincial Government has recently issued guidelines to assist in the development of (Yunnan) China, the Pilot Free Trade Area (Yun Zheng Fa No. 15 [2020]). The document calls on all local governments and units in the province to broaden their investment and financing channels and make efforts to build strategic emerging and cutting-edge industrial zones. It is expected to become an important node to link China’s Belt and Road initiative with the Yunnan Yangtze Economic Belt and become an open stealth and bridgehead for relations with South Asia, Southeast Asia and the Indian Ocean region. The key points covered in the guidelines are as follows:

  1. Greater autonomy in reform
  2. Development of industrial groups
  3. Provide support at financial openings
  4. To create a conducive environment to attract international talents

The three separate regions of Yunnan Province are being attracted to call for investment as pilot free zones considering geographical, technological, raw material and other related issues, the regions are respectively:

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  1. Honghe Hani & Yi Autonomous Region

Honghe Hani and Yi Autonomous Prefecture is the epitome of Yunnan’s economy, society, culture and nature, the birthplace of Yunnan’s modern industry, the on-land gateway for China to ASEAN, and the significant pivot of the “Belt and Road” initiative.

In 2019, Honghe Prefecture registered a number of entry-exit personnel of over 7 million, a total volume of foreign trade of RMB 32.92 billion, and a total volume of border trade of RMB 7.93 billion, ranking third in Yunnan Province for the scale of foreign trade.

  1. Wenshan area

Home of Panax Notoginseng: Mysterious Wenshan. Wenshan has identified four key industries, namely the traditional Chinese medicine industry with notoginseng as priority, mining and power industry supported by hydropower and aluminum, tourism industry characterized by wellness and modern agriculture represented by green food.

Wenshan Prefecture will provide high-quality services and build first-rate business environment for enterprises making investment or starting business there.

  1. Dehong area

Dehong Area has its unique geographical advantage and, thanks to preferential policies including the special mode of supervision implemented “within national territory but outside customs territory” at Jiegao, Ruili National Key Experimental Zone For Development and Opening-up and China (Yunnan) Pilot Free Trade Zone Dehong Area, has been approved as a comprehensive pilot zone for cross-border E-commerce, where new commercial opportunities will be created for enterprises.

China’s Pilot Free Trade Area (FTZ) in Yunnan, Hebei and Henan provinces recently conducted online cloud investment promotion activities to attract foreign capital; Yunnan has four cross-border highways connecting Kunming with Bangkok, Hanoi, Yangon, Vientiane. It has been cleverly linked to other parts of China.

Yuan Yuan, deputy director general of the Pilot Free Trade Zone and Free Trade Ports Department, said that as a new high ground for reform and opening up, the pilot free trade zone also plays an important role in stabilizing key foreign trade and foreign capital. “Ministry of Commerce” (MOC) at a recent press conference. It is learned that despite being hit by the Cavid-19 outbreak, China has not stopped opening and attracting foreign investment.

The state of development in Yunnan, including Tibet and Sichuan, has changed dramatically. Yunnan has moved away from the conventional trend and is taking more pragmatic steps and playing a more important role in China. Just two decades ago, Yunnan was considered a mountainous region with Myanmar in the west, Laos in the south, and Vietnam in the south.

The region had huge infrastructural gaps, poor connectivity with major cities and development centers in China. Its irresistible ethnic population of 24 minority communities was a sensitive area for any major development intervention.

Today, it is one of the most vibrant provinces and bridge over Southeast Asia. Between 1990 and 2018, total regional GDP grew from 9. 9.41 billion to 9 269.7 billion. Its per capita income recorded a nearly 22-fold jump. West-East (Shanghai-Yunan) cooperation initiatives continue with massive investments and have helped alleviate poverty among various ethnic minorities. In 2011, the ‘Three Prefectures Supporting Three Counties’ model was adopted, focusing on the aspects of production, livelihood, education and treatment.

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