"Nursery" Effect Continues To Release The Shanghai Free Trade Zone Four Systems Innovation Scanning

Recently, China's new round of reform and opening up "experimental field" - Shanghai FTA usher in its birthday.

Ai Baojun, vice mayor of Shanghai and director of the administrative committee of the free trade area, said that after a year of reform and practice, the Shanghai free trade area has promoted four major institutional innovations, and achieved important results. The investment management system with the negative list as the core has been established, and the trade regulatory system focusing on trade facilitation has been running smoothly. The financial innovation system with the goal of capital account convertibility and financial service industry opening has been basically established, and the post event supervision system with the pformation of government functions has been basically formed.

Financial openness

Fully stimulate enterprise vitality

Hongyi investment company has completed the first story of cross border investment in Shanghai free trade zone with super high speed, which has been well received on both sides of Pujiang.

In February of this year, as the first PE to enter the Shanghai Free Trade Zone, Hirotake completed the first single investment in cross-border investment in Shanghai Free Trade Zone, and invested 186 million yuan in outward investment, and jointly purchased PPTV from [-0.69% fund of Suning Appliance.

It took only 5 days to submit the application to the record.

Not long after that, they completed second of their cross-border equity investments through the Shanghai Free Trade Zone platform, and successfully invested in a new Hollywood film production company.

Zhao Linghuan, President of the company, said that from the perspective of institutional innovation, enterprises have been benefited, and the initiative of using FTA platform for business innovation has also been stimulated.

Zhang Xiaomeng, vice president of Shanghai branch of Citibank Free Trade Zone, is very happy recently. Her team has officially launched a full-automatic cross-border RMB two-way current account centralization pilot business designed by Roche China. "This is the first brand new business implemented by our country. If the customer needs 10 yuan exchange rate originally, it needs only 2 yuan now."

Cao Qi, assistant governor of Shanghai branch, is also excited about the [-0.56% fund of ICBC.

In June 18th, the Shanghai branch of ICBC opened the first RMB free trade account in the free trade area.

ICBC played the overall advantage of ICBC's internal and external coordination and opened up the day to absorb RMB 100 million yuan from the Singapore Branch of ICBC's overseas institutions.

More and more enterprises have benefited from the deepening of the reform, indicating that the seedlings in the "nursery" of the free trade area have been pplanted.

Zheng Yang, director of the Shanghai financial office, told reporters that from 1 to August this year, the new cross-border RMB accounts for 156 billion 300 million yuan, 17 billion 430 million yuan for RMB overseas loans, 27 billion 200 million yuan in two-way capital pool business, 48 thousand and 850 million yuan in cross-border RMB payment.

The reform measures of canceling the approval of foreign financing lease bonds and the operation and management of foreign exchange funds of multinational companies have been copied and promoted by the central financial management department in the whole country.

Financial system innovation has made the FTA a financial treasure pot. 87 institutions with financial licenses and a number of financial services enterprises have entered the FTA.

Ai Baojun said that under the premise of adhering to macro prudence and controllable risks, the people's Bank of China, the Banking Regulatory Commission, the Securities Regulatory Commission and the CIRC have launched 51 innovative initiatives. In the 5 aspects of the free trade account system, investment and financing convenience, cross-border use of the RMB, interest rate liberalization and foreign exchange management reform, the financial system framework and regulatory mode of "first line release and second line strict management" have been formed, which has done a "stress test" for financial reform.

Opening wider to the outside world

Reporters in the FTA interview found that "nursery" in a plant reform seedlings vigorous, is moving towards a broad world.

Take the foreign investment management which people are more concerned about, in the free trade area, the foreign investment project approval system and the enterprise contract and constitution examination and approval system outside the negative list are all changed to the filing system, and the matching system of archival information multisectoral sharing and regular filing institutions are established.

By the end of August, the number of newly established foreign-funded enterprises in the region was more than 90% by way of filing, and the foreign-funded enterprises completed the record on the spot, which was greatly shortened by 8 days compared with the original approval.

Reporters learned that before the establishment of the Shanghai Free Trade Zone, the establishment of a wholly foreign-owned Ship Management Companies is limited in China. The negative list of free trade zones and the opening measures of service industries have broken the forbidden area.

Not long ago, 3 wholly foreign-owned ship management companies, including Shanghai Run Yuan Shipping Management Co., Ltd., marine engineering ship management (Shanghai) Co., Ltd., Maersk Shipping Management Consulting Co. Ltd., were settled in Pudong and became the first batch of foreign-funded ship management enterprises in Shanghai.

6 international shipping and management enterprises from Germany and Singapore are in the process of business registration.

With the successive entry of a series of world-class shipping agencies, many business gaps in the domestic shipping industry have been filled.

The emergence of superiority stems from the maturity and perfection of the system.

Reporters learned that, on the basis of the negative version of the 2013 edition, the FTA revised the negative list of the 2014 edition in June this year, reducing the special management measures of foreign investment access from 190 to 139, adjusting the rate to 26.8%, further improving openness and pparency, and getting positive comments from all sides at home and abroad.

Ai Baojun said that a series of institutional innovations were made in formulating and improving the negative list, carrying out foreign investment, overseas investment management and commercial registration in order to further expand the opening up of the service industry.

Gu Jun, deputy director of the Shanghai Municipal Commission of Commerce, said that preliminary statistics showed that foreign investment in the Shanghai free trade area has been expanding over the past year, and 283 projects have been settled. Foreign investment enthusiasm has burst, and the number of newly established foreign-invested enterprises has increased 10 times compared with last year (year-on-year).

Trade facilitation

Optimize environment and improve environment

Investment is changing and trade is changing.

Zhang Yaoting, deputy general manager of Czechoslovakia (Shanghai) Logistics Co., Ltd., had a fresh memory of the "new year" customs' "first entry and post declaration" last year.

She said that the company had a vote on the import of electrolytic copper from Ulsan, Korea. In October 8th last year, the company learned that the goods were coming to Hong Kong, and sent the customs through the customs supervision information system of the FTA to the customs. The receipt was automatically generated in less than 10 minutes.

With the receipt of the pickup notice, the enterprise can directly load the goods from the port area before the goods arrive at the port and have not yet completed the customs formalities.

Zhang Yaoting said that the goods were the first batch of goods tested by the Shanghai Customs after the implementation of the new customs supervision mode in the pilot area of the FTA.

The fluctuation of commodity market price is very large, and the demand for goods logistics is very high.

The new mode provides a strong support for warehousing and logistics enterprises to solve this problem.

It is estimated that the time of customs clearance can be shortened by two to three days in the new mode, and the average cost of logistics will be reduced by 10%.

What is particularly gratifying is that the Shanghai customs has said that the system of "first entry and post declaration" has been duplicated and promoted in 51 customs special supervision areas in the Yangtze River economic belt since August 18th, and has been replicated in the customs supervision place since September 18th.

Shanghai Customs announced that 4 customs supervision and service systems for free trade zones will be launched in the near future. At this point, the Customs has promulgated 23 free trade area systems.

The average customs clearance time of the FTA decreased by 41.3% compared with that outside the region, and the average time of export clearance was 36.8% lower than that outside the zone.

"The success of replication promotion is based on whether" optimizing the market environment, facilitating trade facilitation and enhancing the effectiveness of supervision "as a standard, so that enterprises and people can get substantial benefits from customs reform and share reform dividends.

Zhang Hong, deputy head of the customs working group of the free trade area, said.

In the face of a reform measure, many entrepreneurs say frankly that reform has brought dividends that they did not dare to think in the past.

Wang Lei, chairman of the Shanghai Group Co., Ltd., said that measures such as centralized operation and management of foreign exchange funds could make the pfer of funds more convenient, the cost of trade greatly saved and the efficiency of capital utilization increased significantly.

Ai Baojun said that the FTA has established an international advanced level of trade regulation system, which includes "single window" of international trade and classified supervision of cargo status.

From the institutional arrangement, the single window operation of port management has been realized. After a period of time, it is hoped that the relevant departments of the government can achieve a single window operation and basically realize the operation of a single window of international trade.

Supervision afterwards

Changing functions and improving services

The launch of the FTA reform measures has put forward new requirements for accelerating the pformation of government functions, focusing on ex ante approval and focusing on post supervision.

Today, the FTA has formed 6 systems of post event regulatory framework, which are the main body of the system, and has explored the establishment of a system of security review, anti-monopoly review system, social credit system, information sharing and comprehensive law enforcement system, strengthening the process supervision and follow-up management of the market participants after "wide entry", and has explored the promotion of modernization of the governance system and governance capacity in the economic field.

In March 26th, foreign investment access in Pudong, Shanghai achieved the "five card joint operation", and the foreign-funded enterprises' "acceptance" from the establishment to the enterprise change was larger than the FTA coverage.

This is the first reform and innovation in Pudong's comprehensive reform and free trade area construction.

Chen Guoshan, vice president of business development in Shanghai, China, said, "the whole process of accreditation takes only a week or so, which is far beyond our imagination."

At the same time, he received the approval documents, business license, organization code certificate and tax registration certificate from the Pudong Market Supervision Bureau, the Commerce Commission and the Inland Revenue Department.

Since the beginning of this year, following the implementation of the "negative list" management mode in Shanghai and Huangpu District, and promoting the approval process reengineering and mode innovation, Jingan District has also accelerated the reform of foreign investment and foreign trade administrative examination and approval and achieved trade facilitation through the implementation of the "negative list" management mode, the "encouragement list" service mode and the "power list" trial reform mode.

Sun Jianping, Secretary of the Jingan district Party committee, said, "we need to" power "for" capability "and pfer power to achieve the upgrading of government service capabilities, so as to realize the pformation of government functions and optimize the development environment.

The seedlings in the "nursery" of the FTA began to take root in the whole country.

The reporter understands, after strengthening communication with relevant departments of the state, the FTA has already formed 54 reformed items that can be copied and popularized, of which 21 have been or are about to be promoted in the whole country or some regions, 33 have the basis of replicable promotion, and a number of reform and innovation are speeding up in practice.

"When the FTA was established half a year ago, we made an assessment. The basic conclusion is to adhere to institutional innovation and integrate international rules, which is in line with the original goal orientation."

Zhou Zhenhua, director of the Shanghai Municipal Government Development Research Center, said.

Reporters learned that, from the survey results of the representative foreign-funded enterprises in the free trade area, the practice of the free trade area is a breakthrough in the innovation of the government management system. It is a pformation from a management oriented government to a service-oriented government. It is in line with the prevailing international rules. Foreign-funded enterprises are confident that the government will further optimize the business environment.