New free trade parks to open in Tianjin, Guangdong, Fujian
Print Edition
CHINA yesterday announced plans to open three new free trade parks, as well as measures to streamline administrative powers.
Following the success of the pilot free trade zone in Shanghai, new parks will be opened in Tianjin, and Guangdong and Fujian Provinces, according to a statement released after a State Council executive meeting presided over by Premier Li Keqiang.
Since the opening of the Shanghai pilot free trade zone in September 2013, negative list management, foreign trade, financial services and governmental supervision have all been overhauled.
The statement promised more experimentation in the free trade zone to help foreign investment, the service sector and advanced manufacturing.
Some experiences in investment, trade, finance, services and supervision will be extended nationwide, and innovative inspections and quarantine will be used in other areas under special customs supervision, it said.
Administrative reform is key to vitalizing the market and shall be further pushed forward, the statement said.
More than 100 kinds of approvals involving investment, business operations and employment will be canceled or delegated to lower levels, fueling entrepreneurship and easing the burden on private businesses. Also, 26 permits in telecommunications and road freight will be adapted to improve market access, while the approval and authentication of 68 occupational qualifications will be abolished and another 10 appraisal items cut.
The State Council called for more effort to streamline administrative powers.
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