Shenzhen set to launch free trade zone

Shenzhen is set to launch a free trade zone on a pilot program.

The city government recently released detailed plans for a tariff-free zone for exports and imports from 2013 to 2015. The zone, which includes seven industrial parks covering 10.48 square kilometers, will be developed into an international commodity trade and logistic center.

It will also incorporate a settlement center as well as a center for setting prices of key commodities.

Once established, the zone will be a comprehensive free trade area incorporating a free port, a renminbi offshore center and a services trade center connecting Shenzhen, Hong Kong and Macao, experts said.