Third group of free trade zones opened in China
The State Council has approved the seven new zones in the provinces of Liaoning, Zhejiang, Henan, Hubei, Sichuan and Shaanxi as well as Chongqing Municipality, according to an official statement released Friday.
Li Qian, director of Chongqing FTZ management office, said Chongqing, through its efforts to build land trade routes with Europe, will help set the rules for land trade, as compared to trade via marine routes.
"The plan for the FTZs reflects that China wants to build an open economy as a whole, but before doing that, it has to experiment with FTZs in different parts of the country," said Lu Shanbing, deputy director of the Silk Road Research Institute of Northwest University.
"The FTZs will not prioritize a certain area, rather, they will help coordinate development between the mid-west and the east and close the gaps," he said.
source: news.xinhuanet.com
