China launches three more free trade zones
It will incorporate and unify four existing bonded zones that focus on customs services, logistics and trade. The 34.26 sq km Lujiazui financial district is a national financial and trade hub.
Both Jinqiao development district (20.48 sq km) and Zhangjiang High-tech Park (37.2 sq km) are national-level industrial development districts focusing on high-tech manufacturing and research.
The Fujian FTZ will cover 118.04 sq km and consist of three regions:
The Pingtan (43 sq km) section, which will focus on building a "common home" for people across the Taiwan Straits and developing an international tourism island.
The Fuzhou (31 sq km) section, which aims to become a demonstration zone of cross-Straits service trade and financial innovation cooperation, will comprise the Fuzhou Economic and Technology Development Zone and the Fuzhou Bonded Port Zone Area.
The Xiamen (44 sq km) section, which will build a cross-Straits demonstration zone for emerging industries and cross-Straits trade, financial services and shipping centers.
The Guangdong FTZ will cover 116.2 sq km and include the districts of Nansha in Guangzhou, Shekou in Shenzhen and Hengqin in Zhuhai.
1. Guangzhou Nansha New Area (60 sq km)
It will focus on modern industries and production-based services and comprehensive services.
2. Shenzhen Shekou Area (28.2 sq km)
It will focus on promoting in-depth cooperation between Guangdong province and Hong Kong Special Adminstrative Region, and it is intended to become a pilot demonstration "window" for the opening-up of China's financial industry.
3. Zhuhai Hengqin New Area (28 sq km)
It will focus on in-depth cooperation between Guangdong province and Macao Special Adminstrative Region and cultural and educational opening-up.
Background information of China's Free Trade Zone
China officially launched the China (Shanghai) Pilot Free Trade Zone on Sept 29, 2013 to explore new ways for the nation to open up, to transform government functions and promote economic restructuring.
