China's FTZs take lead in the progress of opening-up since 2013

China's 12 pilot free trade zones (FTZ), which extend from the country's eastern coast to western inland, have been taking the lead in the process of opening-up since 2013.

Established on September 29, 2013, the China (Shanghai) Pilot Free Trade Zone (SHFTZ) planned to deepen the construction of FTZ, and decided to involve the coastal Lingang area and the New Hongqiao area in 2019, according to Shanghai Securities News.

In order to construct a special economic function zone with international influence and competitiveness, Shanghai municipality will deepen the institutional innovation of its pilot FTZ, line up with international trading rules and systems, strengthen the single-window customs clearance for international trade, and optimize market elements to better serve the Belt and Road Initiative in 2019.

Meanwhile, the Guangdong FTZ also plans to expand its coverage and vigorously promote reform and innovation. In 2019, it will apply to establish an innovative futures exchange, adopt the mode of negative list to manage the cross-border service trade, and accelerate the construction of key platforms such as the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone and the Traditional Chinese Medicine Science and Technology Industrial Park of Co-operation between Guangdong and Macao (GMTCM Park).

It is worth noting that the priority of the Hainan FTZ in 2019 is to step up the construction of free trade port. To achieve this, it will accelerate the debut of an overall implementation plan as soon as possible.

In addition, some newly-established FTZs in provinces of Zhejiang, Liaoning, Henan and Hubei will still pay much attention to their construction and functional zones improvement.