Core Insights - The Zhejiang Free Trade Zone has achieved 690 institutional innovation results in five years, including 193 national firsts [1][2] - In 2024, the Zhejiang Free Trade Zone, occupying less than 1/400 of the province's area, contributed 19.2% of the province's foreign trade, 17.6% of foreign investment, and 8.9% of tax revenue [1] Institutional Innovations - The Zhejiang Free Trade Zone has implemented 71 national-level reform pilot projects focusing on trade, investment, finance, and transportation [2] - Innovations include the first securitization product involving game and animation copyrights, and a comprehensive bank settlement account system covering over 400,000 accounts [2] Trade Facilitation - The zone has established a one-stop paperless customs clearance platform, reducing the clearance time for special biological products by over 60% [2] - A digital platform for foreign crew certificate processing has been created, providing over 160,000 consultations [2] Taxation Support - The Zhejiang tax authority has implemented digital management for export tax refund documentation, benefiting 79,000 enterprises [3] - Comprehensive bonded zones have been established in each area of the Free Trade Zone, with the number of zones leading the nation [3] Economic Contribution - The comprehensive bonded zones in the Zhejiang Free Trade Zone account for 42% of the trade value within the zone, despite occupying less than 9% of its area [3]

Core Points - The State Council has recently issued a notice to replicate and promote 77 pilot measures from the Shanghai Free Trade Zone to a broader scope, with 34 measures to other free trade zones and 43 measures nationwide [1][2] - The measures focus on enhancing trade and investment liberalization, including service trade, goods trade, digital trade rules, intellectual property protection, government procurement reform, and risk management [2][3] Group 1 - The 77 measures are designed to accelerate the opening of service trade and improve the convenience of goods trade, aiming to enhance international trade and investment [2] - Specific initiatives include optimizing international transit operations, integrating customs special supervision areas with port management, and recognizing overseas quarantine electronic supervision information to improve customs clearance efficiency [2] - Financial openness is also a focus, with measures to enhance the digital yuan pilot applications and optimize cross-border fund management for multinational companies [2] Group 2 - Nearly half of the measures (36 out of 77) target areas such as intellectual property protection, government procurement reform, labor rights protection, state-owned enterprise reform, and environmental protection [3] - In government procurement, 15 measures aim to increase transparency and fairness, including expanding the scope of applicable projects and improving electronic procurement processes [3]