BUSINESS China's new FTZs inaugurated to push forward opening up

BUSINESS

China's new FTZs inaugurated to push forward opening up

Xinhua

16:27, August 30, 2019

9a24b6e640ea4cb5baf9187760588742.jpg

File photo: CGTN

NANNING/KUNMING, Aug. 30 (Xinhua) -- China's new pilot free trade zones (FTZs) were inaugurated Friday, in a bid to press ahead with reform and opening up.

South China's Guangxi Zhuang Autonomous Region held a pilot FTZ unveiling ceremony in Nanning, the regional capital, on Friday morning.

The Guangxi pilot FTZ aims to step up cooperation with the ASEAN region. The total area of Guangxi's pilot FTZ is nearly 120 sq km, covering areas of Nanning, Qinzhou Port and Chongzuo.

According to the regional government, Guangxi's pilot FTZ will focus on modern financial services, smart logistics, digital economy, emerging manufacturing industries, port shipping logistics, international trade, components of new energy vehicles and cross-border tourism.

According to a master plan released by the State Council on Monday, the six new pilot FTZs are located in Shandong, Jiangsu, Guangxi, Hebei, Yunnan and Heilongjiang, bringing the total number of the country's pilot FTZs to 18.

Neighboring Yunnan Province also announced the inauguration of its pilot FTZ on Friday.

Yunnan's pilot FTZ covers parts of Kunming, the provincial capital, Honghe Hani and Yi Autonomous Prefecture and Dehong Dai and Jingpo Autonomous Prefecture.

Wang Guangfu started his business in Dehong, which borders Myanmar, in 2000. Wang's company launched an online wholesale platform in 2017, providing services to more than 6,600 Myanmar retailers and developed a mobile phone shopping application for individual customers.

"I look forward to seeing the implementation of policies related to the pilot FTZ, which will promote the development of export-oriented industries," said Wang, who attended the inauguration.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue