Kunming has done business with 173 countries (regions)

By : InKunming | Published: 2019-09-25

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[InKunming--Kunming] In the end of August, 2019, some parts of Kunming were permitted as Kunming Area of China (Yunnan) Pilot Free Trade Zone. Since then, openness of Kunming city has become larger.   

In latest years, Kunming municipal government has done some practical works that helped Kunming gradually complete its systems and mechanisms meeting with international standards.

Specifically speaking, Lancang-Mekong River Cooperation Mechanism, Bangladesh-China-India-Myanmar Economic Corridor, China-Indochina Peninsula Economic Corridor, and Greater Mekong Sub-regional Economic Corridor, all originated from Kunming. 

In 2018, Kunming Customs completed clearance integration; 7 foreign banks opened its branch banks in Kunming; construction of a regional cross-border RMB financial service center set up in Kunming was accelerated.

In 2019, Kunming began to implement a 144-hour transit visa exemption policy. In the first quarter of 2019, a total of 153, 383 foreign people visited Kunming under the policy. The number of foreign visitors increased by 78.65% year on year.   

Meanwhile, BRICS countries’ Technology Transfer Center, China (Kunming), South Asia and Southeast Asia Science and Technology Service Cooperation Center, and Kunming-Vientiane Science and Technology Innovation Center were launched in Kunming. 

Until now, Kunming has done business with 173 countries (regions) according to statistics published by Kunming Municipal Bureau of Commerce. Kunming’s import-export volume with 63 countries (regions) under One Belt and One Road Initiative reached 8.712 billion U.S. dollars, increasing by 117.42%. 

Many international-level exhibitions and conferences were also held in succession in Kunming: China-South Asia Expo, South and Southeast Asian Countries’ Commodity Exhibition and Investment and Trade Fair, Lancang-Mekong Sub-region Countries Commodity Expo, and the Munich Oktoberfest convened in Kunming one by one. Right now, the city has held 306 international exhibitions and conferences.

Kunming municipal government announced that Kunming, as a capital city of Yunnan province, and a core area of radiation center to South Asia and Southeast Asia, will enhance its leading role for being a regional and international central city in region of South Asia and Southeast Asia. 

Click here to view Chinese report.

(Editors: Cathy Chen, Christine)


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