Qingdao applies for pilot free trade zone   

青岛欲建自由贸易试验区 扩大国际大宗商品保税

(ECNS) -- The Bureau of Commerce in Qingdao, east China's Shandong province, has applied to build a pilot free trade zone (FTZ), aiming to turn the city into a regional international trade center in Northeast Asia by 2020, according to the local Qilu Evening News.

Ma Weigang, director of the bureau, said its provincial government had submitted the application to the State Council.

The Qingdao FTZ will use its advantages in regional and economic cooperation with Japan and the Republic of Korea, and put forward experimental measures to address issues in free trade negotiations among the three countries, Ma said.

Qingdao has published an outline of the construction project, planning to promote the city's trade transformation from foreign trade to international.

The city will be built into a center of international trade, goods distribution, shipping, logistics, purchases, transit trade, commercial services, and commercial shopping, according to the outline.

Qingdao will also enlarge its range of bonded imported bulk commodities, to strengthen its position as a distribution center of bulk raw materials.