News

A New Batch of 75 Institutional Innovation Cases Issued in Guangdong Pilot Free Trade Zone

01 31, 2018      Source: Nanfang Daily

With the consent of the provincial government, the Pilot Free Trade Zone Office of Guangdong recently released a new batch of 75 institutional innovation cases in the Guangdong Pilot Free Trade Zone.

Among the 75 innovative cases announced this time, 15 innovative cases concerning investment facilitation were included, including the implementation of the qualification certification system for overseas investors, a new model for exploring differentiated land supply, a new approval and management model of construction projects on social investment, mutual professional qualification authentication in Guangdong, Hong Kong and Macao, and the first V-Tax remote and visual self-service taxation platform;

There have been 20 innovation cases in the trade facilitation field, including the implementation of "releasing into areas first, cargo tallying and confirming afterwards" for cross-border e-commerce goods, the regulatory model of "global central warehouse", smart approval of origin certification, the application of UAV for inspection and appraisal, simplification of formal inspection procedures for small vessels sailing between Hong Kong and Macau, as well as paperless customs clearance for entry and exit ships.

There have been thirteen innovation cases in regard to regulation during and after events, including credit supervision in enterprise life cycle, the development of cross-department collaborative supervision platform, the public service platform for Internet of Things “ID Card Management”, innovative list management mode of supervision during and after events, the innovation of smart urban management model, global quality traceability system for import and export commodities, and the financial risk assessment and early-warning system based on big data, etc.;

13 innovative cases have been released in the field of law-based construction, i.e. the establishment of an innovative notary institution, the participation of the Qianhai Notary in the intensive management of judicial assistance affairs of the court, the Nansha model in handling the labor arbitration in Hong Kong and Macao, and hearing and judgment of the first case applicable to the laws of the Hong Kong Special Administrative Region.

As for the field of financial openness and innovation, 14 cases are included, the issuance of “Panda Bond” for enterprises in Hong Kong, the emerge of the first block chain cross-border payment service in China, the first case of domestic disposal in China of offshore vessel assets, and the online launch of the national platform for financial innovation intellectual property operation and transaction, and the establishment of a comprehensive service platform of shipping big data.

The Pilot Free Trade Zone Office of Guangdong has stated that, the case of institutional innovation can be regarded as good experience and practice of active exploration, reform and innovation, summary and refinement by various regions of the Guangdong Pilot Free Trade Zone, and can also be regarded as business innovations of some enterprises’ drawing on experience from the policies of the Pilot Free Trade Zone, both of which can provide references for local governments and related organizations in further deepening reforms, expanding opening up, and conducting business. In order to make these institutional results easier to understand and apply, they have been published in the form of cases, bringing into the exemplary and leading role of reform and innovation in the Pilot Free Trade Zone.

Previously, the Guangdong Pilot Free Trade Zone issued 17 cases of institutional innovation, among which three new institutional innovation cases as the new mode of cross-border e-commerce supervision, the governmental intelligent supervision service model, and the new government affairs service model of enterprise exclusive webpage, have been listed as national “Best Practice Cases".