The BRICS Summit explores new space for the opening up of Jinpu New District

The “BRICS Xiamen Declaration” of the BRICS Summit proposed that 5 member countries will carry out cooperation in trade and investment, currency and finance as well as mutual communication. Undoubtedly, the proposition provides a remarkable opportunity for the development of Jinpu New District, which has maintained broad cooperation with the BRICS. Enterprises and departments of the district will seize the chance to expand new space for opening up.

Dalian DentBio Technology Company is the largest domestic company to produce pure xylitol gum and dextrose candy. With the saturation of the European market, the company gradually focuses on the BRICS market. Since the beginning of this year, the company’s export volume to Russia has reached 17 million, with a year-on-year growth of 70%. The “BRICS Xiamen Declaration” said “BRICS countries will enhance cooperation through currency exchange, local currency settlement and direct investment”.  This means companies will probably settle export by RMB rather than US dollar, which can dramatically decrease costs and risks.

The trade volume among BRICS has only accounted for 5% of respective total foreign trade volume, which indicates huge trade potential. The “BRICS Xiamen Declaration” said “the BRICS are encouraged to establish demonstrated electronic port networks and electronic business working groups”, making it more convenient for the customs clearance among BRICS. Now, Dalian Customs and Liaoning Entry-Exit Inspection and Quarantine Bureau are speeding up the construction of the customs clearance and the integrated system.

Vale of Brazil is the worldwide largest iron ore supplier. Considering the difference of the iron ore between the south and north of Brazil and the restrictions as well as transportation costs, the company decides to mix the two kinds of iron ore after they are transported to the Dalian Port so as to meet various needs of Chinese iron and steel enterprises, which is a precedent of Chinese mixed-ore operation. Every month, two 400-thousand-tonner ore-carriers come to the Dalian Port for mixed-ore operation. In order to promote the development of bonded mixed-ore business, Dayao Bay Customs has published the “Instructions on Bonded Mixed-Ore Business of Dayao Bay Customs”, aiming to carry out personalized services and optimized supervision process.

Jinpu New District seizes the commanding height in northeastern China to implement the opening up and cooperate with the BRICS. The “BRICS Xiamen Declaration” includes 5 aspects and 71 items on economic pragmatic cooperation and global economic government, which can promote the district to become a strategic region opening up to northeastern Asia.

The foreign export volume of Dalian towards BRICS from January to July of 2017 reached 14.61 billion yuan, with a year-on-year growth of 14%. Main export productions included marine engineering equipment, bearings and marine products.