Three New Free Trade Zones to be Launched Today

Three New Free Trade Zones to be Launched TodayChina again released more details in regards to the pilot of free trade zones in Tianjin, Guangdong and Fujian together with plans to deepen reforms and further open up the Shanghai free trade zone.

The plan is one major step for china to promote reform and to open up, facilitate investment, and boost trade. While a negative list approach is created which specifies investment sectors that are off limits to foreign investors will be tried in the proposed free trade zones. The list contains free trade zone foreign investment that is prohibited in sectors such as non ferrous metal mining, postal enterprises, production of radio and television programs and air traffic controls systems management. These foreign investments are restricted in joint ventures with domestics companies in certain sectors such as general purpose airplane design, oil and natural gas exploration, rare earth smelting, manufacturing and maintenance.

Starting today the three new free trade zones will be officially launched in Guangdong.

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