The Guangdong Free Trade Zone (FTZ) is poised to develop at an accelerated speed in the 13th Five-Year Plan (2016-20) as specified in the 2016 government work report, in which China's central authorities highlight a new round of high-level opening-up.

The government work report also mentioned that China plans to give more attention to the existing FTZs established in Shanghai and Guangdong, while looking to establish new ones.

Zhou Wenzhong, a member of the 12th National Committee of the Chinese People's Political Consultative Conference (CPPCC) offered his interpretation of the plans on March 9, saying that the more favourable policies exclusively implemented in FTZs will attract businesses that would be beneficial to local development.

Zhou used to be the Chinese ambassador to the United States and is now the secretary-general of Boao Forum for Asia.

"FTZs are pilot areas for promotion of business, investment and employment, because the policies they have implemented cannot be promoted instantly on a nationwide basis. This is why FTZs have the chance to be role models for other regions," he said.

He noted that the Guangdong FTZ and Shanghai FTZ have their own priorities, but believed that these two – with more to be established in the future – would better serve the new round of high-level opening up as more companies are willing to establish a presence in them.

Go to Forum >>0 Comment(s)