Xiamen Free Trade Zone officials recently announced a suite of policies designed to accelerate the offshore trade industry. The policies are supported by the local branch of the State Administration of Foreign Exchange as well as the local finance, commerce and tax bureaus. Preliminary calculations indicate that the policy will save enterprises up to 40 million yuan annually.
Xiamen became a State Administration of Foreign Exchange pilot city for new forms of offshore international trade in 2021. FTZ officials said that the pilot policy will optimize the tax environment and reduces the transaction costs of enterprises. Official expect the policies to attract more offshore trade entities to gather in Xiamen.
Source:Common Talk
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