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July 26, 2016

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Tianjin FTZ may take in zone in Hebei

A pilot economic zone in the northern coastal city of Tianjin could expand to include another industrial zone in neighboring Hebei Province, part of a wider program to drive economic integration around the capital Beijing.

The China (Tianjin) Pilot Free Trade Zone was established in 2015, along with two others in the southeastern province of Fujian and southern province of Guangdong, to test measures including speedier custom clearance, less control on cross-border capital flow and broadened access for foreign investment in China’s service sector.

Currently, three areas in Tianjin make up the Tianjin FTZ, but as authorities aim to drive administrative and economic integration among Tianjin, Hebei and Beijing, the governments in Tianjin and Hebei are applying to include Hebei’s Caofeidian District into the pilot zone.

Adding a new area outside Tianjin would enable measures to benefit more places surrounding Beijing. The inclusion plan is pending approval from the State Council.


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