2. Targets and objectives

TJFTZ will give priority to implementing the five categories of piloting programs targeting administrative management, investment, trade, finance and the coordinated development of Beijing-Tianjin-Hebei region.

1. Accelerating the transformation of government functions. Reform on the administrative management system is to be deepened with efficiency and effectiveness enhanced. The administrative functions of review & approval and management will be separated, and a comprehensive and integrated administrative review & approval mechanism will be put in place. The transformation of government administration will be boosted, from emphasizing proactive regulation & supervision to stressing interim and ex post regulation & supervision. A service system will be established to meet the requirement for internationalization, marketization and institutionalization and for facilitating trade and investment.

2. Broadening investment horizons. The establishment of a high-standard investment and trade regulation system is to be accelerated to conform to prevailing international norms. In the fields such as service industry and advanced manufacturing, access restrictions will be lessened on foreign investors' qualifications, equity ratio, business field, etc. The foreign investment management mode will be reformed through practicing national treatment plus negative list prior to investment approval. A one-stop service platform for out-bound investment and co-operation is to be put in place, and the mechanism of protecting investor's right and interest will be perfected.

3. Encouraging trade transformation and upgrade. Great efforts are to be made in developing service trade, and the pilot reform projects will be furthered on international block commercial transactions, bonded futures delivery, cross-border e-commerce, etc. A national-level innovation demonstration area for import trade promotion will be set up. Elements of shipping will be further assembled, and development mechanism and operation mode of international competitiveness will be explored for the shipping industry. A "single-window" regulation and service system for international trade will be implemented.

4. Intensifying financial openness and innovation. Pilot operations will first be conducted on interest rate liberalization, cross-border RMB use, foreign exchange control, etc. The free trade account with characteristics of Tianjin will be launched to facilitate cross-border investment and financing and to improve capital account convertibility. The overall opening-up of the financial service industry will be intensified to the eligible domestic private capital and foreign financial institutions. With policy innovation in the leasing business and the establishment of the China Tianjin Leasing Platform and the China Financial Leasing Registration and Transfer Platform, a policy environment in line with the prevailing international norms will be created for the leasing industry. A financial risk prevention & control mechanism will also be put in place.

5. Coordinating the development of Beijing-Tianjin-Hebei region. The radiating functions of port service will be enhanced, the industries of the region further transformed and upgraded, regional financial market integration accelerated, and an environment for technological innovation and talent cultivation created. The customs clearance standardization of Beijing, Tianjin and Hebei Province will be perfected. TJFTZ will play its role as an important junction along the China-Mongolia-Russia economic corridor and a strategic fulcrum for maritime co-operation, so as to propel the Belt and Road Initiative.


    2. Targets and objectives
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