Centers for trade and service opened at FTZ
China DailyThe China Pilot Free Trade Zone Yantai Area opened international trade and service centers last week. As part of the China Pilot Free Trade Zone, the Yantai area is designed to be a pilot zone for trade and investment cooperation between China and South Korea, a base for intelligent marine manufacturing and a demonstration pilot area for the industrialization of national scientific and technological achievements and international technologies. The Shandong FTZ said it has explored 60 innovative measures, with 24 relating to the business environment, 13 involving trade transformation and upgrading, eight concerning the ocean economy, seven covering innovation-driven development and the financial sector and one referring to regional economic development between China, Japan and South Korea. During the period, the Shandong FTZ has helped attract 9.8 percent of foreign investment and contributed 12.5 percent of the value of imports and exports in the province, local officials said.