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Zhejiang Pilot FTZ to Have ‘Basic Law’
2017-07-28 09:58:42

Zhejiang’s reforms have taken a variety of shapes, including the implementation of “At-Most-One-Time Presence”, assisting the national strategy One Belt One Road, and facilitating trade across the oil industry chain. Reporters got word from the Legislative Affairs Office of Zhejiang Provincial People’s Government that the Regulations on the China (Zhejiang) Pilot Free Trade Zone (Draft), hereafter refered to as the Draft, was approved at the executive meeting of Zhejiang Provincial Government on July 25. This means that there will be a “basic law” for the Zhejiang Pilot FTZ.
According to the briefing, The Draft legalized over 70 policies in the overall plan for the FTZ, which involve government function transition, investment facilitating, free trade, financial service, taxation innovation, comprehensive management, and the environment of rule of law, etc. In addition, more than 30 new ones to be implemented are added in line with the relevant FTZ policies supported by national ministries and commissions.
The Draft centers on the “At-Most-One-Time Presence” reform and it aims to boost innovation in systems and institutions. For example, it is stipulated that when natural persons, legal persons, or unincorporated organizations go to the relevant departments with their applications in the FTZ, the procedures will be finished on their first trip (unless it contradicts existing laws and regulations). Another instance is devolving the provincial administrative authority. It is made clear in the Draft that the Pilot FTZ, if the needs arise, is to exercise some administrative authority which was in the hand of provincial departments, by submitting the catalogue of authority, obtaining the approval through legislative procedures. Publicizing the authorities precedes the implementation.
In the reform and innovation of Zhejiang Pilot FTZ, it is a priority to facilitate the development of the oil industry chain. The Draft centers on some important areas such as optimizing the oil industry chain and facilitating the bulk stock trade. It also stipulates the improvement of the policies related to the bonded oil supply, such as streamlining and devolving the approval procedures and authority when foreign ships enter the Pilot FTZ to refuel.

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