China expects second FTZ batch by year end

(ECNS) -- China's central government may approve another three pilot Free Trade Zones (FTZs) in Tianjin municipality, Guangdong province and Fujian province respectively, National Business Daily reported on Tuesday, citing an unnamed insider.

Chinese President Xi Jinping on Monday said experience gained via Shanghai FTZ should be applied to more places "as soon as possible."

Shares in Tianjin Port Co went up 1.87 percent while those in Tianjin Marine Shipping Co jumped 3.37 percent thanks to the news.

According to earlier reports, Tianjin FTZ aims to be an economic center that connects North China to northeast Asia, while the one in Guangdong intends to incorporate the province and neighboring Hong Kong and Macao. The FTZ in Fujian will focus on cross-Straits cooperation.

China plans to build several FTZs in suitable places other than Shanghai, a reform blueprint adopted last November revealed.

Over 20 cities intend to submit applications for establishing FTZs, according to government work reports.