More than 10 provinces of China have submitted their applications for the establishment of the country's third batch of Free Trade Zones (FTZs), according to the Shanghai Securities News. Besides, more than 20 provinces have came up with plans on building FTZs in their local "two sessions", of which 16 provinces put the work of FTZ applications into their local government work reports for 2016.
As the first two batches of FTZs are mostly located in developed costal regions in China, inland areas in central and west China are deemed an important area for construction of the third batch of FTZs in China and have greater needs for opening up, said Huo Jianguo, former president of the Chinese Academy of International Trade and Economic Cooperation affiliated to the Ministry of Commerce.
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