China’s Ministry of Commerce will push forward the formation of more replicable practices in the country’s free trade zones (FTZs), a ministry spokesperson said Thursday.
“Currently, the ministry has sorted out a new batch of experiences from pilot FTZs, which will be released to the public at a proper time,” spokesperson Gao Feng said at a press conference.
Since the first pilot FTZ was established in Shanghai in 2013, China has set up 12 pilot FTZs nationwide, resulting in a total of 153 successful practices that have been replicated in other parts of the country.
Such practices have played a positive role in lightening the corporate burden, stimulating the vitality of market entities, optimizing the business environment and sharing the benefits from reform and opening up, Gao said.
The ministry is also working with Shanghai on the planning for a new area of the Shanghai FTZ, he added.
Source: Xinhua News Agency