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The ministry will guide the FTZs to strengthen bottom-line thinking and risk awareness
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The ministry will guide the FTZs to strengthen bottom-line thinking and risk awareness

Views:0     Author:Site Editor     Publish Time: 2019-09-03      Origin:Site

Jiangsu FTZ will enhance overseas investment cooperation, strengthen the role of the financial sector in supporting the real economy and promote innovative development in the manufacturing sector, Guo Yuanqiang, deputy governor of Jiangsu province, told reporters.

Yang Jinbai, vice-chairman of the Guangxi Zhuang autonomous region, said Guangxi will construct international transport routes, build a pioneering zone for China-ASEAN cooperation, and develop itself into a gateway in the west for connectivity.

Xia Yanjun, deputy governor of Hebei province, said the province's FTZ will step up efforts to boost international trade in commodities, open up the biomedicine and health sectors, and foster innovation in life sciences and bio-technologies.

China's first free trade zone was set up in Shanghai in 2013. Then the country added four more batches of FTZs, including the coastal provinces of Fujian and Guangdong and the inland provinces of Shaanxi and Sichuan.

In the past five years, bold steps have been taken in investment, trade liberalization and facilitation, support of financial services for the real economy and transforming government functions with remarkable progress, Wang said. Citing related data, he said FTZs have become a major force in attracting foreign investment.

The newly set-up FTZs will help address difficult issues, boost high-quality development, enhance efficiency and foster emerging industries, Wang said.

Wang said the ministry will ensure the new FTZs contribute to national strategies such as the Belt and Road Initiative, the integrated development of Beijing, Tianjin and Hebei, and the development of the Yangtze River Economic Belt.

The ministry will guide the FTZs to strengthen bottom-line thinking and risk awareness, Wang said. Advanced FTZ experiences will be replicated nationwide, he added.

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