Authorities in Guangdong have passed a regulation on development of a pilot free trade zone (FTZ) in the southern province.
The regulation, effective on July 1, stipulates principles about investment, trade, high-end industry development, finance and rule of law in the pilot FTZ. It sets specific items regarding cooperation among Guangdong, Hong Kong and Macao, encouraging talent flows, entrepreneurship and information exchanges among the three.
The regulation also introduced a third-party evaluation mechanism of government work. China established its first pilot free trade zone in Shanghai in 2013 and announced three more in 2015 in the northern coastal city of Tianjin, Fujian Province in the east and Guangdong Province.
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