Chongqing, Zhoushan tipped as favourites for 3rd round of FTZ selection

BEIJING - Shipping experts are speculating that western metropolis Chongqing and the coastal city of Zhoushan in Zhejiang province are the most likely to be selected as new free trade zones (FTZs) in the third round of selection, as the Central Government devotes more resources to developing the Yangtze River Economic Belt within its 13th Five-Year Plan (2016-20).

Eager to enhance the earning ability of inland regions, China has been keen to support the growth of city clusters in the Yangtze River Economic Belt, which comprises the Yangtze River Delta, the middle reaches of the Yangtze and Chengdu-Chongqing region. It also wants to encourage more foreign companies to invest in the central and western regions.

The China Daily reports that the government is also likely to give priority to restoring the Yangtze valley’s ecology, while simultaneously pressing ahead with efforts to develop an integrated transportation and modern industrial corridor within the area.

Shipping industry professor, Dong Liwan,nsays the selection of Chongqing as a new FTZ location would result in upgraded development of the Yangtze River Economic Belt, where growing shipping activities offer a diversified business platform for 11 provinces and municipalities, including Jiangsu, Anhui, Hunan and Hubei. www.webershandwick.cn (ATI).