China has announced a master plan for six new pilot free trade zones to press ahead with the reform and opening up in the new era.
The new pilot zones will be located in the six provincial-level regions of Shandong, Jiangsu, Guangxi, Hebei, Yunnan and Heilongjiang.
This will bring the number of China's pilot free trade zones to 18, aiming to better integrate the Chinese economy with international practices.
Wang Shouwen is Vice Minister of Commerce.
"The establishment of the new pilot FTZs in the six provincial-level regions is intended to stimulate internal impetus of high-quality development by means of differentiated exploration on a larger scale, in a wider range and at more levels, and to better service the overall strategic plan of opening-up."
He says the new FTZs are also expected to become popular destinations for foreign investment, as they are a forefront of reform and trial policies that are favorable for foreign businesses.
For more on this, we're joined by CRI financial analyst Einar Tangen.
