Arab Today, arab today china to launch 3 new freetrade zones
Last Updated : GMT 05:49:29
Arab Today, arab today
Arab Today, arab today

Building on a project that began

China to launch 3 new free-trade zones

Arab Today, arab today

Arab Today, arab today China to launch 3 new free-trade zones

Yangshan port in Shanghai
Beijing - Arab Today

China will launch three new free-trade zones on Tuesday, official media said, building on a project that began in Shanghai to much fanfare but has so far undershot expectations.

The free-trade zones (FTZs) will be opened in the southern province of Guangdong, the northern port of Tianjin and the eastern province of Fujian, reported the website of the People's Daily, the ruling Communist Party's mouthpiece.

Each will cover around 120 square kilometres (46 square miles), the State Council, China's cabinet, said.

China's first FTZ, set up in the commercial hub Shanghai in September 2013, will also be quadrupled in size, it said, bringing it up to a similar scale and likely to take in the financial centre of Lujiazui, along with a manufacturing area and a high-tech base.

When the Shanghai FTZ was launched it promised a range of financial reforms, including full convertibility of the yuan currency and free interest rates, but they remain unfulfilled.

All four zones are subject to the same "negative list" that bans or restricts foreign investment in 122 business areas, ranging from genetically modified seeds and rare earth mining to Internet news services and television broadcasters, a separate State Council statement showed.

Assistant commerce minister Wang Shouwen told reporters the list represented a reduction from the previous 139.

"Openness is improved greatly this time," he said.

The Guangdong FTZ aims to speed economic integration with neighbouring Hong Kong, the former British colony that is now a special administrative region of China, one of the releases said.

It will allow Hong Kong and Macau companies to issue yuan-denominated bonds in the mainland and explore ways for firms in the zone to sell yuan-denominated shares in Hong Kong, it said.

The Fujian zone is focused on Taiwan, which China considers part of its sovereign territory, and aims to become a "cooperation platform" for the "21st century maritime silk road" -- an initiative backed by President Xi Jinping that seeks to secure trade routes, largely through economic diplomacy, another statement said.

Companies and individuals in the Fujian zone will be permitted to invest overseas directly "using their own financial assets", it added.

The Tianjin FTZ is part of a push to better integrate the city with nearby Beijing and Hebei province, according to the State Council.
Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china to launch 3 new freetrade zones Arab Today, arab today china to launch 3 new freetrade zones

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china to launch 3 new freetrade zones Arab Today, arab today china to launch 3 new freetrade zones

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Botanical gardens a lifeboat

GMT 02:50 2017 Tuesday ,26 September

Botanical gardens a lifeboat
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday