Economy > Trade

3rd batch of FTZs in Shaanxi, Hubei provinces inaugurated

BEIJING
2017-01-12 16:38

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The free trade zones (FTZs) in Shaanxi and Hubei provinces were inaugurated recently, Shanghai Securities News reported on Thursday.

Meanwhile, the provinces of Liaoning, Sichuan, and Chongqing Municipality have accelerated the construction of FTZs as their major tasks in 2017.

In August, 2016, Chinese authorities decided to set up seven new FTZs across thecountry that would be located in the provinces of Liaoning, Zhejiang, Henan,Hubei, Sichuan, and Shaanxi as well as Chongqing Municipality.

At present, the local governments in the seven provinces and direct-controlled municipality had made preparations for the construction of FTZs, although the applications have not been approved by the State Council, China's Cabinet.

After the expansion, the total number of FTZs will reach 11. China is hoping to press ahead with wider reforms, while allowing the regions to tap their unique geographical and industrial advantages for further experiments.

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