Ningbo releases plan for construction of 16+1 cooperation demonstration zone

Ningbo in East China's Zhejiang province recently released a plan for the construction of a demonstration zone for economic and trade cooperation within the 16+1 cooperation framework.

The 16+1 cooperation system, aimed at strengthening ties between China and 16 Central and Eastern European Countries (CEEC) in areas such as trade and investment, is one of the most significant cross-regional cooperation systems in the world.

Chinese Premier Li Keqiang proposed the establishment of a demonstration zone for economic and trade cooperation in Ningbo during his address at the 7th China and Central and Eastern European Countries Economic and Trade Forum in Budapest, Hungary on Nov 27, 2017. It will be the first demonstration zone for 16+1 cooperation and marks a new beginning for Ningbo-CEEC ties.

The newly released plan is a guiding document that takes into account the central government's instructions and Ningbo's current situation. It lays out a "3362" framework, representing three first choices, three platforms, six demonstration projects and 20 key tasks.

According to the plan, Ningbo is striving to be the most attractive destination in China for CEE countries in terms of trade, investment and cultural exchanges. In the next three years, the city will also put stress on the development of three exchange platforms – China-CEEC Investment and Trade Expo, China-CEEC Inspection and Quarantine Pilot Zone of Trade Facilitation, and the Sofia China Cultural Center in Bulgaria.

In addition, the plan states the importance of developing six demonstration projects concerning trade facilitation, investment cooperation, institutional collaboration, connectivity, public services and cultural exchanges.

The 20 key tasks proposed in the plan include strengthening cooperation in cross-border e-commerce, creating a distribution system for CEEC goods, establishing an introduction and cultivation system for large importers, and exploring more cooperation in emerging fields.

In 2017, the total value of Ningbo's imports from the 16 CEE countries was 2.54 billion yuan ($402.3 million), up 78.4 percent year-on-year. The value of exports exceeded 17.25 billion yuan, an increase of 21.6 percent over the same period last year.

The plan also sets some numeric goals for the next three years. By 2020, the value of imports and exports between Ningbo and CEE countries is expected to hit $4.5 billion, accounting for 5 percent of China's total import/export value. In terms of people-to-people exchanges, there will be over 500 exchange students and 10,000 tourists moving between the countries.

People from many different countries and regions come to Ningbo for the 3rd China-CEEC Investment and Trade Expo in June of 2017. [Photo provided to chinadaily.com.cn]