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Economy

China steps up FTZ construction to boost investors' confidence

April 21, 2020


Abstract : The accelerated construction of China's third batch of pilot free trade zones (FTZs) in Liaoning, Zhejiang, Henan, Hubei, Sichuan, Shaanxi provinces and Chongqing Municipality has helped reassure investors' confidence, reported Economic Information Daily Tuesday.

BEIJING, April 21 (Xinhua) -- The accelerated construction of China's third batch of pilot free trade zones (FTZs) in Liaoning, Zhejiang, Henan, Hubei, Sichuan, Shaanxi provinces and Chongqing Municipality has helped reassure investors' confidence, reported Economic Information Daily Tuesday.

Since inaugurated three years ago, the seven FTZs have basically implemented all the 1,055 pilot tasks outlined in their respective plans, with 137 systematic innovation results replicated and promoted across China, said the report quoting information from an online press conference held recently.

The seven FTZs have effectively integrated into and served the major national development plans, said Tang Wenhong, Director-General with the Department of Pilot Free Trade Zone and Free Trade Port of China's Ministry of Commerce.

They have helped expanded the openness of the gateway cities in West China and cooperation in Northeast Asia area, and advanced the Belt and Road construction as well as the in-depth implementation of the national plans for the large-scale development of the western region, the rise of the central region and the revitalization of the northeast, he added.

According to him, these FTZs are currently making strong efforts to promote work and production resumption to secure a stable supply chain, further shorten the negative list for market access of foreign investment to enhance global investors' confidence, and develop an export-oriented economy to energize market players. (Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)

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