May 28, 2019

China to accelerate expansion of pilot FTZs

China is accelerating the expansion of the Pilot Free Trade Zones to promote the opening-up of the capital market, imports and exports of services, technology transformation and intellectual property protection.

As a part of major national strategies, new free trade zones will be established in the Beijing-Tianjin-Hebei region, the Yangtze River Delta region, the Midwest and the Northeast in the future. Applications for free trade zone establishment are under way.

The choice of new locations for the free trade zones will take into consideration the ability and demand of trade investment, according to Zhang Jianping, director of the regional economy cooperation research center under the Ministry of Commerce. Zhang also said that some provinces in central China are actively preparing for the application.

Since the country’s first free trade zone was established in Shanghai in September 2013, the pilot free trade zones in China have promoted 171 pilot reforms across the whole country.