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China to expand free trade zones

Updated: Jul 5,2019 6:43 AM     Xinhua

BEIJING — The establishment of six new pilot free trade zones (FTZs) and expansion of the Shanghai FTZ are underway, the Ministry of Commerce said on July 4.

The new zones and the Shanghai FTZ expansion will further optimize China’s FTZ layout and better serve national strategy, said MOC spokesperson Gao Feng at a news conference.

Last weekend, China released two negative lists for 2019, one for the FTZs and one for the rest of the country, easing market access in agriculture, mining, manufacturing industries and services.

The shortening of negative lists and improvement of FTZ business environment will help further stimulate market innovation and drive economic growth, Gao said, adding that the ministry was working alongside other departments on rolling out related regulations.

While opening up more sectors, China is committed to providing better services and environment for foreign investors and sharing with them more opportunities of China’s development, Gao said.