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Applications halted to cool down FTZ fever  

中央高层批各地自贸区一哄而起 申报流程暂停

日前,权威部门人士向《瞭望》新闻周刊记者透露,由于中央高层对自贸区申报存在的问题“不甚满意”,愈演愈烈的自贸区申报热潮被紧急叫停,并打回重新审查。[查看全文]
2014-06-04 13:19 Ecns.cn Web Editor: Qian Ruisha
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(ECNS) – China's central government has called off the application process for establishing free trade zones (FTZs) amid a frenzy of applicants.

Since FTZs were first mentioned at the Third Plenary Session of the 18th CPC Central Committee last November, local governments have rushed to apply.

More than 20 cities have plans to submit such applications, according to government work reports.

Local governments are eager to receive favorable state policies and funds to draw investment and businesses, just like the establishment of economic development zones or special regions that were popular in the 90s.

However, analysts point out that the central government intended FTZs to be trials for innovation, new development models and reforms, not merely policy preferences.

In addition, there's a threshold for setting up FTZs, and not every city is eligible. Cities need to have a developed international trade and service trade, and have plenty of investment opportunities. Also, they need to be able to boost economies in adjacent areas.

But a stop of applications doesn't mean a stop to reform and innovation, experts say. Local governments should carry on revamping their economies, even without an FTZ tag on them.

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