Xi'an ITL Park: active part of China (Shaanxi) Pilot Free Trade Zone

The Xi'an International Trade and Logistics (ITL) Park is an integral part of the China (Shaanxi) Pilot Free Trade Zone, founded on April 1, 2017. The park has an area of 26.43 square kilometers and is designed to be an international inland port, trading and logistics district and a demonstration site for the financial industry.

As the first international inland port in China, the ITL Park strives to be a transportation hub for the Belt and Road Initiative, an innovation center for the financial industry and a platform for Asia-European trade and cultural exchange.

The ITL Park attaches great importance to international trade, modern logistics, port-centered industry, financial services, e-commerce, and culture and sports. Since its designation as part of the free trade zone, the park has made efforts to facilitate the development of trade, investment, finance and services.

From April 1, 2017 to February, 2018, another 1,661 enterprises setup shop in the free trade zone, a year-on-year increase of 56 percent, boosting registered capital by 155 percent to 34.9 billion yuan ($5.54 billion).

Development of trade

The international "Chang'an" freight train that connects the inland city of Xi'an to Central Asia and Europe was instrumental in establishing the city as a new starting point in the Silk Road Economic Belt.

In order to improve performance, the freight trains are entrusted to enterprises who manage their day-to-day operations. By the end of February, 2018, 91 trains had been deployed, delivering a total of 106,600 tons of cargo.

Freight train lines were also opened to Central Asia, Germany, Hungary, Finland and Russia, and a more regular line was opened to Qingdao Port in Shandong province, covering the major supply cities in Central Asia and Europe. Eight storage bases were set up in Frankfurt, Germany and Karaganda, Kazakhstan, as well as other foreign cities, forming a logistic channel system which integrates air, land and sea transportation.

ITL Park also formed relationships with other ports and signed a cooperation agreement with the Dubai Multi Commodities Centre (DMCC) Free Zone. It also strengthened its status as an inland port and has been designated as the port of entry for vehicles, grains and meat.

Development of finance

At the Fifth Xi'an Financial Industry Exposition held in September, 2017, three financial service institutions based in the ITL park were established for the purpose of providing services in arbitration, commercial conciliation, innovation and entrepreneurship in order to better implement the preferential policies of the pilot free trade zone.

With the establishment of financial enterprises, such as China Minsheng Investment Group and Shaanxi Financial Holding Group, the ITL Park has become a center for financial leasing in West China.

The park also saw the rapid development of online transactions. The Midwest Inland Port Financial Town helped improve the online buying and selling of bulk stock, such as aluminum and copper. The total online transaction value of e-commerce enterprises in the park reached 100 billion yuan in 2017.

Development of investment

The park also made efforts to improve the investment climate by making full use of the free trade zone's unique advantages and learning from the experiences of Shanghai, Tianjin, Fujian, and Guangdong.

Preferential policies were tailored to attract more international investment and skilled workers while also supporting the development of e-commerce, new finance, and open economy industries.

Several well-known enterprises, such as leading e-commerce players Suning and Jingdong, and logistics companies Shentong Express and Yuantong Express, set up branches and regional headquarters in the park, laying a solid foundation for the development of the free trade zone.

Development of services

The ITL Park is continually improving services through internet and information technologies.

A service system was formed which covers administrative service centers, community service centers and free trade service stations. A 24-hour self-service site was also established where companies and individuals can receive services around the clock, allowing them quicker access to market approval.

Cultural exchanges with countries involved in Belt and Road

The park also works to establish a platform for trade and cultural exchange between countries involved in the Belt and Road Initiative. It signed agreements with the cities of Tashkent, Samarqand and Bukhara in Uzbekistan and finished the design schemes for the Silk Road Culture Exchange Hall and Silk Road Cultural Museum.

The ITL Park hosted an exhibition and auction for overseas handicrafts on March 20. This was the first time that the free trade zone introduced foreign handicrafts according to the model of "bonded plus exhibition plus auction".

Adhering to the principles of "openness, innovation, cooperation and mutual benefit", the ITL Park plans to further open logistics channels, attract more investment, improve investment and business environment and establish new platforms in order to become an influential inland free trade port.