Chinese Government approves 12 more free trade zones

BEIJING – China’s central government has approved 12 free trade zones (FTZs) to follow the one being established in Shanghai on September. It has named Tianjin Municipality and Guangdong Province, but locations of the remaining 10 have yet to be announced.

 After consent from the Cabinet, a group of central government departments will conduct a joint survey of the proposed zones, and hammer out specific establishment plans in a process that may last more than a year. Tianjin and Guangdong have completed the survey, which the other 10 have just started.

Regions including Zhejiang, Shandong, Liaoning, Henan, Fujian, Sichuan, Guangxi and Yunnan, and cities including Suzhou, Wuxi, and Hefei have all said that filing FTZ applications is high on their 2014 priority lists.