Three more free trade zones open

China Daily (Canada) - - FRONT PAGE -

China opened three new free trade zones (FTZ) 18 months af­ter the first one was un­veiled in the fi­nan­cial hub of Shang­hai, which was de­signed to show­case ef­forts to stream­line the over­loaded ad­min­is­tra­tive ap­proval sys­tem and en­cour­age in­no­va­tion and in­ter­na­tion­al­iza­tion.

Of­fi­cials ex­pect the three new FTZs — in Tian­jin, Guang­dong and Fu­jian — will boost eco­nomic re­form, pro­mote trade and fa­cil­i­tate in­vest­ment in new ar­eas, as the coun­try moves away from its un­sus­tain­able ex­port-de­pen­dent model.

China also cut the num­ber of re­stric­tions on for­eign in­vest­ments for the four zones.

By its first an­niver­sary, the Shang­hai zone had atracted 12,000 reg­is­tered en­ter­prises lured by a bet­ter trade and in­vest­ment en­vi­ron­ment. (Photo 1)

Pi­lot Ber­trand Pic­card

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