China's Yinchuan Free Zone Seeks Jafza 'Trade Bridge'
by Lorys Charalambous, Lowtax.net, Cyprus
08 December, 2014
The Deputy Governor of China's Ningxia Autonomous Region recently led a seven-member delegation to Jebel Ali Free Zone to discuss potential collaboration with its own equivalent, Yinchuan Free Zone.
Welcoming the delegation, Salma Ali Saif Bin Hareb, CEO of Economic Zones World (EZW), the parent company of Jafza, said: "Jafza can be a springboard for businesses from North West China to establish their footprint in one of world's fastest growing regions. We will be more than happy to be a trade bridge between North West China and the Middle East."
Yinchuan Free Zone was established in September 2012 and began operations a year later. It has attracted companies from a range of sectors, including aviation, wine, halal products, logistics, and leasing.
Jafza has been operating for almost three decades, leveraging its proximity to Dubai's Jebel Ali port. It is home to over 7,100 companies, including 100 of the Fortune 500. It offers a number of benefits to companies established in the zone, including 100 percent foreign ownership, zero percent corporate tax guaranteed for 50 years, zero percent import and re-export duties, zero percent personal income tax, and no restrictions on the repatriation of capital and profits.
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