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China TO set up seven more free trade zones

China will set up seven new free trade zones (FTZs), bringing the total to 11. The new zones will be in Liaoning, Zhejiang, Henan, Hubei, Sichuan, Shaanxi and Chongqing. China set up the first free trade zone in Shanghai in 2013, and followed up with zones in Guangdong, Fujian, and Tianjin in 2014. o time frame for opening the new zones was given.

 

"The decision to expand the FTZs shows authorities' strong resolution in advancing reforms and opening up," Xinhua quoted Minister of Commerce Gao Hucheng as saying.    

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