State Council, General Plan for the China (Liaoning) Pilot Free Trade Zone

国务院中国 (辽宁) 自由贸易试验区总体方案

January 02, 2017 | BY

Susan Mok

Liaoning FTZ encourages smart equipment, marine engineering equipment and biopharmaceuticals.

Clp Reference: 2100/17.03.15 Promulgated: 2017-03-15

Promulgated: March 15 2017

Main contents: Domestic futures exchanges are encouraged to engage in business such as futures bonded trading and financing secured by the pledge of warehouse receipts in the special customs surveillance zones of the free trade zone (Item 6, Section Three).

The offshore parents or subsidiaries of zone enterprises are permitted to offer renminbi bonds in China in accordance with relevant provisions. Foreign-invested equity investment management institutions and foreign-invested venture capital management institutions are permitted to promote in the zone funds that manage renminbi equity investments and venture capital investments. Lease companies in the zone are permitted to open renminbi accounts abroad to be used for cross-border renminbi leasing business. Banks in the zone may extend renminbi loans for offshore projects in accordance with relevant provisions. Cross-border bi-directional renminbi fund pool business by multinational enterprise groups will be launched (Item 7, Section Three).

Development of the commercial factoring business is supported. Qualified lease financing business in the zone is permitted to charge rent in foreign currencies (Item 8, Section Three).

The participation in mutual recognition of mainland Chinese and Hong Kong fund products by fund products in the zone that satisfy mutual recognition conditions is supported. Foreign enterprises will gradually be permitted to participate in commodity futures trading (Item 9, Section Three).

Concentration in the zone of industries such as smart equipment, marine engineering equipment, aviation manufacturing, motor vehicles (with emphasis on alternative energy vehicles), new materials, hi-tech vessels, electronic information, biopharmaceuticals and high-end medical machinery, modern logistics such as commerce and courier services, and utilization of sea water is encouraged (Item 12, Section Three).

Enterprises in the zone are encouraged to engage in the provision of value-added services such as system integration, equipment leasing, provision of solutions, re-manufacturing, inspection and testing, and remote consulting. The development of integrated innovation media for research and development of specialized technologies, industrial design, etc. as well as engineering research and development centers, scientific research laboratories and corporate technology centers is promoted. The establishment of domestic sales platforms for qualified processing trade products, and processing trade procurement and sorting centers is supported. Financial institutions and equipment manufacturing enterprise groups are encouraged to establish in the zone leasing companies or subsidiaries that solely engage in leasing business that focus on providing lease financing services relating to aircraft, vessels, marine engineering structures, rail transport vehicles, agricultural machinery, high-end medical equipment, large equipment sets, etc. (Item 13, Section Three).

Related legislation: General Plan for the China (Zhejiang) Pilot Free Trade Zone, General Plan for the China (Henan) Pilot Free Trade Zone, General Plan for the China (Hubei) Pilot Free Trade Zone, General Plan for the China (Chongqing) Pilot Free Trade Zone, General Plan for the China (Sichuan) Pilot Free Trade Zone and General Plan for the China (Shaanxi) Pilot Free Trade Zone

clp reference:2100/17.03.15(1) promulgated:2017-03-15

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