A look far into the Xiamen Area of China (Fujian) Pilot Free Trade Zone [Photo/IC]

The Xiamen Area of China (Fujian) Pilot Free Trade Zone (XMFTZ) is spearheading the reform of an open economy regime, with the management committee recently working out a plan including 16 specific solutions. 

The plan was compiled fully taking into consideration Xiamen – a coastal city in East China's Fujian province – and its diversified roles, such as being a national special economic zone, a demonstration zone for independent innovation, a pilot zone for coordinated reform across the Straits, a core area of the Maritime Silk Road, and a pivotal insider in boosting mutual development among southwestern Fujian cities. 

Offshore economy is one highlight, as the plan announces intentions to develop offshore trade with initiative and steadiness, set up an offshore financial service center, introduce tax policies that are internationally compatible, and elevate the offshore capabilities of Xiamen port. 

The plan also wants to learn from free ports and promote some related policies to settle and yield results in XMFTZ. To achieve this goal, the zone will push forward innovation in aspects such as regime, openness, financing, and science and technology, as well as calling for cooperation and resources sharing and attracting essential, high-caliber productive factors. 

Solutions targeting the reform of an open economy regime also include those on developing enterprises that are driven by high-tech and with high growth and added values, shaping XMFTZ into a top choice for Taiwan job seekers and enterprises, as well as deepening cooperation with countries and regions along the Maritime Silk Road.