Chinese President Xi Jinping has called for greater efforts to free the mind, innovate and make breakthroughs in free trade zones (FTZs). The Shanghai Pilot Free Trade Zone is a strategic move taken to deepen reform and opening up in the new era, Xi said in recent comments on the Shanghai Pilot FTZ. He said that going forward the key tasks for FTZs needed to be identified, so that initiative could be taken in reforms, and successes rolled out nationwide…Full Article: ECNS.cn Jan 2017

Key Point

  • From September 2013 to 2016, the Shanghai Free-Trade Zone has recorded approximately 40,000 newly-registered companies.

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  • In August 2016, China’s Minister of Commerce announced that FTZs would be established in the provinces of Liaoning, Zhejiang, Shaanxi, and Henan. At the time of the announcement, no deadline had been set for the establishment of the new FTZs. The future FTZs in Henan and Shaanxi are expected to link up and boost China’s “One Belt, One Road” trade initiative.
  • In November 2015, a Taiwan commodity center was opened in the Shanghai Free-Trade Zone. Taiwanese goods were to be sold directly within the Shanghai FTZ, while the FTZ itself will market the goods on its e-commerce platform.
  • In April 2015, the Tianjin Free-Trade Zone, Fujian Free-Trade Zone, and the Guangdong Free-Trade Zone were launched.
  • In September 2013, the Shanghai Free-Trade Zone was launched.
  • In the autumn of 2013, Chinese President Xi Jinping launched The Silk Road Economic Belt and the 21st-century Maritime Silk Road, a strategic initiative to boost the economic development and trade of countries lying along the South China Sea, Bay of Bengal, Arabian Sea, Indian Ocean, and Red Sea, as well as overland in Central Asia and Europe.

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