CCPIT (China Council for the Promotion of International Trade) Hubei Pilot Free Trade Zone Service Center, the fourth of its kind among the 11 pilot free trade zones in China, was unveiled in Wuhan on October 13. The service center will take full advantages of CCPIT’s professionalism in settling trade friction to safeguard the interests of enterprises at the zone in terms of trade & investment promotion and commercial & legal services.

CCPIT Vice Chairman Lu Pengqi attended and addressed the unveiling ceremony. Lu noted, CCPIT will proactively participate in the construction of Hubei Pilot Free Trade Zone, providing services in outbound trade promotion, two-way investments, economic and technological cooperation, legal consultancy, commercial arbitration, maritime arbitration, etc for enterprises at the zone, in a bid to lifting their competitiveness, guiding foreign companies in China’s market access and Chinese companies in “Going Global”.

“Hubei Pilot Free Trade Zone Service Center will launch a wide range of cooperation with relevant departments at all provincial, county and district levels, and provide tailor-made services for government departments and enterprises, based on the requirements of enterprises, development strategy and functions of free trade zone, and by integrating the resources of trade promotion agencies at all administrative levels with its professional services,” added Lu.

Dai Xi, Deputy Director of the Administrative Committee of Wuhan East Lake High-Tech Industrial Development Zone, conveyed his gratitude for CCPIT’s long-term assistance in the construction of Hubei Pilot Free Trade Zone Service Center. He said, the service center will play its role in realizing resource sharing and win-win cooperation for enterprises in the free trade zone.

“CCPIT will take the establishment of pilot free trade zone service center as an opportunity to explore new patterns for CCPIT’s participation in the building of regional free trade zones, contributing to the reform and opening up, economic and social development of Hubei Province,” said Lu.

Established in 1952, CCPIT is China’s largest trade promotion agency. Before the economic reform and opening up in 1978, CCPIT was mainly dedicated to the promotion of China’s diplomatic affairs, outbound trade and the deepening of people-to-people exchanges. Since 1978, CCPIT began to take the responsibility of attracting foreign investment, bringing in cutting-edge technologies and initiating economic and technological cooperation. By following China’s “Going Global” Strategy, CCPIT has undertaken more tasks for the promotion of outbound investment, service trade, international capacity cooperation, etc. Recently, CCPIT is also assisting Chinese and international business community to further exchanges by implementing the “Belt and Road” Initiative.