China's Pilot Free Trade Zones Record 11.99% Growth in Trade for the First Three Quarters of 2024

According to data released by China's General Administration of Customs on October 30, the total import and export value of China's Pilot Free Trade Zones (FTZs) reached 6.09 trillion yuan in the first three quarters of 2024, marking an 11.99% year-on-year increase. This growth rate surpasses the overall national foreign trade growth rate by approximately 6.7 percentage points, with exports reaching 2.74 trillion yuan (up 16.10%) and imports totaling 3.35 trillion yuan (up 8.83%).

To maximize the benefits of regional trade policies, China's customs authorities have been promoting the integrated development of special customs supervision areas and FTZs, while intensifying efforts to foster collaboration between FTZs and comprehensive bonded zones to enhance trade dynamism. Currently, China's 22 FTZs encompass 71 special customs supervision areas, achieving full coverage across all FTZs.

Customs authorities within each FTZ have tailored innovative regulatory measures to suit regional needs. For instance, Xiamen Customs has pioneered a streamlined customs model for aviation maintenance, supporting the Fujian FTZ's Xiamen sector in establishing a “one-stop” aviation maintenance hub. In the first three quarters of 2024, Xiamen Customs supervised the maintenance of 152 inbound aircraft, with bonded repair goods valued at 121.51 billion yuan. Xiamen's aviation maintenance volume and value lead the nation, covering markets in 24 countries across Asia, America, and Europe.

Hangzhou Customs has advanced integrated regulatory innovations such as the “One Ship, Multiple Supplies” and “Cross-Customs Direct Supply” models, launching China's first paperless pilot for cross-customs bonded fuel supply. This initiative has supported Zhoushan Port's rise as the world's fourth-largest bunkering port, with 5.061 million tons of bonded fuel supplied in the first three quarters of 2024.