Hang Yingwei, deputy to the 13th National People's Congress (NPC) and executive deputy director of the administrative committee of the China (Shanghai) Pilot Free Trade Zone. [Photo/jfdaily.com]

As a test field for China's opening-up to the outside world, the China (Shanghai) Pilot Free Trade Zone has led a new round of high-level opening-up. 

Hang Yingwei, deputy to the 13th National People's Congress (NPC) and executive deputy director of the administrative committee of the free trade zone, answered the question of how to build the zone into a new highland for reform and opening up in the new era.

He pointed out that the free trade zone must accelerate to form a number of "first-in-class" system innovations with the benchmark of highest and best standards, and strive to make systematic system design in creating a new highland for all-round opening-up and high-quality development that can promote the integration of the Yangtze River Delta and serve Belt and Road construction.

When reviewing the reform achievements of the Shanghai FTZ in the past year, Hang said that through continuous reforms it has ran at a "free trade zone speed" in many aspects such as business registration, project launching, trade customs clearance and real estate registration.

Shanghai's "100 items for expanding opening-up" took the lead in the free trade zone, which attracted a number of influential foreign-funded projects. 

The zone's experiment of separating business licenses from operating permits was replicated throughout the country.

Important progress has been made in integrating the Yangtze River Delta and the Belt and Road Initiative.

The China (Shanghai) Pilot Free Trade Zone. [Photo/IC] 

"Driven by the free trade zone, the main economic indicators of Pudong New Area broke through the integer mark. The regional GDP exceeded 1 trillion yuan. Total fiscal revenue exceeded 400 billion yuan, and general public budget revenue exceeded 100 billion yuan. The total output value of industries above designated size exceeded 1 trillion yuan. The total investment in fixed assets exceeded 200 billion yuan. The total merchandise sales exceeded 4 trillion yuan, and the total volume of foreign trade imports and exports exceeded 2 trillion yuan," he said. 

For the reform exploration that the free trade zone will promote this year, Hang said that it should enhance efficiency in the four aspects of business registration, investment project approval, trade clearance and cultural trade approval. 

For business registration, after obtaining the name, the business license processing time should be shortened from two days to same-day service. 

For the approval of investment projects, all kinds of projects should obtain a construction license within 80 natural days, finalize comprehensive acceptance within 15 natural days after completion and real estate registration within five natural days after acceptance. 

In terms of trade clearance, a "single window" needs to be in place covering "air transport + logistics" and further reducing customs clearance time. 

In terms of examination and approval of cultural trade, it is necessary to improve the approval speed for artworks entering the country in special areas under the customs supervision. 

Hang said that this year, the free trade zone will speed up the implementation of a number of key foreign-funded projects, fully promote the functional upgrading of the comprehensive bonded zone, promote the development of new forms of trade, such as offshore trade, transit trade and service trade, give full play to the "dual self-linkage" effect, and accelerate the construction of a global asset management center.