Sichuan Province to Support the Sichuan Pilot Free Trade Zone to Deepen Reforms and Innovations in Five Aspects
In recent days, the province of Sichuan has published the Implementation Opinions on Supporting the China (Sichuan) Pilot Free Trade Zone to Deepen Reforms and Innovations, which put forth opinions on the implementation of deepened reforms in the Sichuan Pilot Free Trade Zone in the five aspects including the continual optimization of investment environment, the improvement in the level of trade convenience, the further strengthening of financial opening-up and innovation, the promotion of pioneering and trial actions in terms of human resources, and the continual exploration in deepening differentiated reforms.
The continual optimization of investment environment:
To further relax requirements in the proportion of foreign technical personnel in foreign-funded construction engineering design enterprises, the restriction on the investment proportion will be canceled for the wholly foreign-funded construction industry enterprises that plan to undertake Chinese-foreign joint construction projects in Sichuan Province.
Certain restrictions on scope of construction engineering contracting pertaining to China Hong Kong-, China Taiwan- or China Macao-funded construction industry enterprises will no longer be in force;
Restrictions such as stockholder requirements in patent service agencies will be further eased;
The delegation of authority will be further expanded, including delegating limits of authority for engineering examinations and approvals such as construction and engineering permit, delegating limits of authority for examinations and approvals of establishment of foreign-funded construction industry entity qualification and permit at the provincial or lower levels, and delegating limits of authority for preliminary examination of registration of resident representative organization of foreign (regional) enterprise;
The governmental affairs services will be further optimized, including the adoption of an "honor system" for type-B large-scale medical devices equipped by private medical institutions inside the Pilot Free Trade Zone;
The average tax rebate processing duration will be shortened from 15 work days to 10 work days;
The electronic processing of trademark registration and "one-stop" services at service windows will be promoted. And the processing locations for the processing of trademark pledge registration will be established;
Prioritized supports for the city of Chengdu and the city of Luzhou in terms of land usage annual plan indicators will be given.
Improvement in the level of trade convenience:
The exploration in the endowment of the international railway bill of lading with the function of document of title will be supported;
Chengdu will be supported to obtain approval for domestic and foreign bonded maintenance and repair base trial site for merchandises with high added value such as aircraft engines, and it will also be encouraged to explore market procurement trade trial site and customs tax guarantee and insurance trial site;
The trial site for innovative development in service trade will be deepened;
Parallel automobile import bonded warehousing service will be encouraged at the customs special supervision zone and bonded logistics center (Type B) inside the trial site in the Pilot Free Trade Zone;
Bonded warehousing and import and export businesses for artworks will be supported, and the management authority for registration of import and export technology contract will be endowed;
The establishment and upgrade of a group of platforms will be supported, including the formal opening of the Port of Luzhou and Qingbaijiang Railway Temporary Port of Entry inside the Pilot Free Trade Zone, which strives to upgrade the Luzhou Bonded Logistics Center (Type B) and Qingbaijiang Bonded Logistics Center (Type B) into comprehensive bonded zones, and obtain state approval for Chengdu port of entry to permit the import of biological products, among other efforts.
Further strengthening of financial opening-up and innovation:
The promotion of management reforms in the filing systems will be furthered, including the establishment, restructuring, relocation and senior executive employment qualification of insurance company branches and subsidiary organizations inside the Pilot Free Trade Zone;
The financial institution in the banking industry inside the Pilot Free Trade Zone will be permitted to perform services such RMB-denominated derivative products and other businesses for foreign organizations under the premise of conformity with laws and regulations and controllable risks, and in accordance with relevant rules;
Banks are permitted to substitute the trade contract between two parties with the paper-based transaction document (after confirmation by both parties of the transaction) issued by the Pilot Free Trade Zone as an evidence for the examination and approval of trade authenticity;
The new patent pledge financing model will be further promoted inside the Pilot Free Trade Zone.
Promotion of pioneering and trial actions in terms of human resources:
Manufacturing enterprises inside the Pilot Free Trade Zone will be encouraged to sign labor contracts or short-term fixed-duration labor contracts with laborers restricted to the completion of certain tasks during peak production periods;
Dispatch labors will be permitted to partake in temporary jobs at research and development positions in corporate research and development centers.
Continual exploration in deepening differentiated reforms:
The Pilot Free Trade Zone establishment benchmarking guide will be formulated and published, and business environment benchmark trouble-shooting action plan will be carried out;
Entities to apply for the establishment as a pioneering zone of coordinated reform in the Pilot Free Trade Zone will be supported, such as national-level development zones with flexible systems and mechanisms, economic functional zones with strong capacity in reform and innovation, and county-level administrative zones with relatively large opening-up potentials;
The Pilot Free Trade Zone and coordinated reform pioneering zones will be supported to explore the establishment of coordinated opening-up model zones in the inland and coastal, border or riverside areas; step-by-step, phased and steady trials of policies relevant to the free trade port will be taken.