Quanzhou’s Maritime Silk Road Pilot Zone Action Plan

The Quanzhou Action Plan for Building a Pilot Zone for the 21st Century Maritime Silk Road was officially adopted by the city’s government on January 20 this year. The plan has been designed to promote policy communication, facilitate connectivity and ensure unimpeded trade with the countries and regions along the Maritime Silk Road. In more specific terms, the document outlines 10 major action plans and the development of 10 key projects. A number of specific targets have been set for 2020. These include enhanced economic cooperation and cultural exchanges, as well as the delivery of a number of priority targets. Among these targets are securing US$25 billion in total import-export transactions, reaching US$2 billion in total cumulative outbound investment and US$3.5 billion in cumulative foreign direct investment. The proposal also aims to ensure that 30% of GDP should be derived from a trade in services with countries and regions along the Maritime Silk Road, with per-capita GDP and economic growth matching or exceeding the other core areas of the Maritime Silk Road. It is hoped that, by 2025, an open economy system will be established and that Quanzhou will function as a new gateway for China in its future cooperation with Southeast Asia, South Asia, the Middle East, and Africa, as well as with a number of other countries and regions. Quanzhou will also play a significant role in China's enhanced integration with the global economy, while also functioning as an important mid-century showcase for the success of the Maritime Silk Road.

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