Suzhou has submitted an application of the city of pilot free trade zone according to Zhou Naixiang, Mayor of Suzhou, at a meeting on February 25, 2014.
In 2013, the total retail sales of social consumer goods in Suzhou grew by 12.9 percent, ¥362.76 ($59.02) billion over the previous year. The import & export of service trade was increased by 28.6 percent.
“We’ll try out best to make the city a pilot free trade zone.” said Zhou Naixiang. Officials were asked to learn from China (Shanghai) Pilot Free Trade Zone in terms of investment management, trade management, financial innovation, and comprehensive supervision.
Suzhou will further increase the added values of trade products, to support processing companies in developing domestic market, to build an online marketing platform, to achieve 85 percent added value of processing trade, 20 percent growth of service import and export, and 25 percent increase of main service outsourcing indicators in 2014.
