On August 2, 2019, China’s State Council approved to set up China (Jiangsu) Pilot Free Trade Zone that comprises three areas, namely Nanjing, Suzhou and Lianyungang, and the Nanjing Area is located in Jiangbei New Area.

On August 30, the three above-mentioned areas were set to open by Lou Qinjian, the Secretary of the Jiangsu Provincial Committee of the Communist Party of China, and Wu Zhenglong, the Governor of Jiangsu. The event saw Nanjing formally usher in a free trade era, and Jiangbei New Area is once again entrusted with a key national task, as it embarks on a new quest of development.

Pilot Free Trade Zone Planning

China (Jiangsu) Pilot Free Trade Zone Nanjing Area has a planned area of 39.55 square kilometers. To its east are the Yangtze River, Hengjiang Avenue and Pubin Road; to the south are Huqiao Road and Xijiang Road; to the west are Huanshan Road, Yanjiang Avenue and Puwu Road and to the north are Jinxiu Road, Kaitian Road and Pudong Road. The key sectors in this area include but not limited to the IC Industry, Life and Health Industry, AI Industry, Internet of Things Industry and Modern Finance Industry.

According to the requirements of the Overall Plan for China (Jiangsu) Pilot Free Trade Zone, the strategic positioning of China (Jiangsu) Pilot Free Trade Zone Nanjing Area is “Two Areas and One Platform”, that is, a pilot independent innovation area with international influence, a demonstration area for modern industries and an important platform for opening up and collaboration. It is hoped that after 3 to 5 years of vigorous reform and exploration, a new example for China’s pilot free trade zones may be set with investment and trade friendly environment, a sound service system, outstanding financial-innovation features, efficient and convenient regulation, normative legal system and remarkable integrated effects.

China (Jiangsu) Pilot Free Trade Zone Nanjing Area has always focused on institutional innovation. Guided by the transformation of government functions and the goal of creating an internationally leading business environment, it strives to provide an excellent administrative environment, accessible investment environment, efficient trade environment, effective financial environment and strong legal environment. The area is also actively improving investment and trade facilitation and vigorously building the most optimal businesses environment and innovative ecology. It will accomplish its strategic mission of “piloting in Jiangbei, applying to Nanjing, serving the province and contributing to the nation”, as it leads the country in building an Innovation Highland, an Industry Highland and an Opening-up Highland.

Innovation Highland

Determined to be innovation-oriented, the area is actively building top innovation ecology. Resolved to “maximize the role and linkage of both the pilot free trade zone and Jiangbei New Area”, it is the top priority of the Nanjing Area to build an innovation cradle that is internationally competitive. Meanwhile, institutional innovation will empower scientific and technological innovation, promoting intense integration of industries, science and technology and finance. Supported by innovative vessels such as the Central Business District and Research and Innovation Park, the area collaborates with famous scientific-research and tertiary institutes at home and abroad, including Harvard University and Peking University, and has introduced a team of top scientists from around the globe. Overseas innovation centers have also been created in internationally renowned gathering places for innovation resources, including Silicon Valley and Boston in the U.S., Oxford and Cambridge in the U.K. and Stockholm in Sweden. As the industrial development of “Two Cities and One Center” takes shape, an innovation network system is in place to satisfy the needs of scientific and technological innovation.

Industry Highland

Focusing on the development of “Two Cities and One Center”, efforts are devoted to the creation of high-end industrial landmarks. Pioneering and progressive industries such as integrated circuit, biomedicine and new finance will be vigorously developed, along with the globally influential “Chip City”, the innovative and state-of-the-art “Gene City” and the Yangtze River “New Finance Center” with radiating effect. Businesses involved in integrated circuit and life and health are fast gathering together encouraged by national pilot projects and leading enterprises such as Taiwan Semiconductor Manufacturing Company（TSMC）and National Health and Medical Big-data Center. Meanwhile, new-finance forms such as asset management, equity investment are being keenly developed to provide powerful capital support for the development of emerging industries.

Opening-up Highland

Determined to open up, the area continues to optimize its opening-up pattern. A business environment that is market-oriented, law-based and internationalized is being actively created, while the thorough integration of openness and innovation is being promoted. The area is stepping up its reforms to delegate power, streamline administration and optimize government services; continuously expanding the number of items to which interview-free approval (services) may apply; and pioneering the “2330” reform of administrative approval in the province. Meanwhile, the Nanjing Area sets up the first international commercial mediation center of China (Jiangsu) Pilot Free Trade Zone Nanjing Area and the first window for the general authorization of trademarks in Jiangsu, leading innovative management and operating models that meet international practice. Moreover, the relaxation of restrictions on foreign investment is being actively explored. The application for the establishment of an integrated bonded area is being expedited, so as to further improve investment and trade facilitation in the area.