China (Jiangsu) Pilot Free Trade Zone

China (Jiangsu) Pilot Free Trade Zone (hereinafter referred to as Jiangsu FTZ) was officially approved to launch by the State Council on August 2, 2019. Jiangsu FTZ consists of three subzones with a total operation coverage of 119.97 km², namely Nanjing Subzone with a coverage of 39.55 km², Suzhou Subzone with a coverage of 60.15 km² (including 5.28 km² comprehensive bonded zone in the Suzhou Industrial Park ) and Lianyungang Subzone with a coverage of 20.27 km² (including 2.44 km² comprehensive bonded zone in the Lianyungang).

The strategic positioning and development target of Jiangsu FTZ is to, with the core of institutional innovation and basic requirement of being replicable and scalable, fully implement the requirement of deepening industrial structural reform and pursuing innovation-oriented development by the CPC Central Committee by advancing all dimensional reform and opening-up to a higher level, accelerating the building of Belt and Road intersection so as to develop into a pioneering zone of open economy development and a demonstration zone of innovative development of real economy and industrial transforming and upgrading.

Through three to five years of experimental reforms in line with leading international standards, Jiangsu FTZ is to deliver more internationally competitive institutional innovation to push forward the reform of economic development in quality, efficiency and driving force so as to build a free trade zone of higher standard and quality with convenient trade and  investment, concentrated high end industries, complete financial service, safe and efficient supervision as well as strong influence on surrounding area.