Zhangjiagang Free Trade Zone (FTZ)

Zhangjiagang Free Trade Zone (FTZ) [Photo provided to chinadaily.com.cn]

Zhangjiagang Free Trade Zone (FTZ) was set up in October 1992 with approval from the State Council, and transformed and upgraded into a bonded port area in 2008, when it integrated with Jingang town in Zhangjiagang, expanding its area from 4.1 square kilometers to 132 sq km.

The free trade zone hosts four traditional industries: chemical engineering, textile, grain and oil, and upmarket wood, along with two emerging markets–imported automobiles and imported consumer goods.

The trade volume of those six markets has surpassed 300 billion yuan ($43.2 billion), turning the zone into the largest import base for liquid chemical products, wool, quality wood in the country and the largest for automobiles, frozen meat and cotton in Jiangsu province.

In 2017, Zhangjiagang Free Trade Zone achieved a regional GDP of 70.87 billion yuan, with tax revenue of 10.45 billion yuan and total foreign trade volume of 96.79 billion yuan.

Park planning of Zhangjiagang Free Trade Zone (FTZ) [Photo provided to chinadaily.com.cn]