Third batch of free trade zones to be finalized shortly

Fujian Pilot Free Trade Zone is looking to innovation, March 6, 2015. [Photo/IC]

The third batch of free trade zones (FTZs) is expected to be finalized shortly, with inland areas and provinces along the Belt and Road getting priority, China Securities Journal reported on Monday.

As an important measure to promote regional economic development, applying for FTZ and taking part in the construction of the Belt and Road have been put forward at local governments' two sessions since the beginning of the year.

Last month, the State Council issued the Opinions on Speeding up the Implementation of Free Trade Zone Strategy, which proposed to further optimize the construction layout of the free trade zones and quicken the implementation of the FTZ strategy.

Henan CPPCC Chairman Ye Dongsong put forward the construction of Henan FTZ for the first time at the central province's two sessions on Saturday.

Ye said the provincial government will intensify efforts to improve the construction and competitive edge of Zhengzhou Airport Comprehensive Economic Experimental Zone, apply for Henan Free Trade Zone, and build Zhengzhou Cross-border E-commerce Pilot Zone.

Shaanxi, a major province along the Belt and Road, has called for FTZ construction in northwestern province. Shaanxi governor Lou Qinjian said on Sunday that the province will actively try to build Shaanxi Pilot Free Trade Zone, promote trade facilitation, and establish cooperation with 13 domestic port cities.

In August 2013, China established the first pilot FTZ in Shanghai. In April last year, three more FTZs were established in the southern province of Guangdong, the Tianjin municipality in the north and another in the southeastern province of Fujian.