By the end of the first half of the year, the efforts of Xiamen city to foster new modes of trade had paid off. E-commerce, financial leasing and bonded trade all fared well as part of the vibrant local economy of the coastal city in southeastern Fujian province.
Cross-border e-commerce reeled in 60 billion yuan ($9.1 billion) in the first six months, increasing 20 percent from last year. The sector contributed four percentage points of growth to the total foreign trade volume in the city.
Twenty-seven airplanes worth a combined $3 billion were lately introduced in the city through financial leasing deals. The financial leasing sector also expanded to include leasing of ships and large equipment. Infrastructure construction is also set to benefit from financial leasing services.
By the end of June, 16 sales centers of imported goods in Xiamen had realized 150 million yuan in sales, benefiting from favorable tax policies in the bonded area of the Xiamen free trade zone.
Liquor products worth 710 million yuan were imported in the first half of the year, increasing 52.9 percent from last year. The Southeast Wine Trading Center in Xiamen imported 80 percent more wine products than last year.
China announced and implemented on May 15 a policy allowing visa-free entry of foreign tourist groups aboard cruise ships via all cruise ship ports along the country's coastline.
China and Georgia are set to waive visa requirements for travelers starting May 28.
