NETDA Free Trade Zone gets evaluation acceptance.

 

Nantong Yanfeng Johnson Controls Seating Trim Co

Nantong Economic Technological Development Area's (NETDA) Free Trade Zone, Area A

Nantong Economic Technological Development Area's (NETDA) Free Trade Zone, Area B

The Nantong Economic Technological Development Area's (NETDA) Free Trade Zone, a 1.77-square-kilometer area, in the city of Nantong, Jiangsu province, got its awaited approval recently from the State General Administration of Customs, National Development and Reform Commission, Finance Ministry, Land and Resource Ministry, Housing and Urban-Rural Development Ministry, Commerce Dept, State Tax Administration, State Industry and Commerce Administration, General Quality Supervision, Inspection and Quarantine Administration, and State Foreign Exchange Administration, so it can advance to a new stage.

The NETDA Free Trade Zone got the original go-ahead, on Jan 3, 2013, from the State Council, for a 5.29-sq-km area, in two parts – Area A with 0.63 sq-km and Area B 1.15 sq-km -- with various functions, such as manufacturing, logistics, port operations, and general services. It has 36 companies by now, 15 of them foreign, and $550 million worth of foreign investment. It is also having talks or has reached agreements on 20 projects, and has applied for an e-business service license for cross border trade.