China’s Shaanxi Province has recently released the guideline to support construction of China (Shaanxi) Pilot Free Trade Zone (FTZ).

Shaanxi Pilot Free Trade Zone (File photos: VCG)

Under the guideline, the Shaanxi FTZ will center on the new development concept and especially focus on the economic cooperation and people-to-people exchanges under the Belt and Road Initiative.

Meanwhile, the local authority also put forward specific policy opinions including reducing investment examination and approval items, strengthening in-process and post supervision, improving the overseas investment management, enhancing the function of greater Xi'an area as an integrated logistics hub, building a national air transport hub, and establishing a cultural and education alliance about the Silk Road.