China has published plans to further deepen reform and opening-up in pilot free trade zones (FTZs) of three coastal areas to better business environment and push for wider opening to the world.
The reform in FTZs in Guangdong, Tianjin and Fujian will focus on high-quality development, supply-side structural reform, institutional innovation and risk prevention, according to a document of the State Council, China's cabinet.
A better business environment that is law-based, international and accommodating will take shape in the FTZs.
The FTZs will be granted bigger decision-making power in reforms to help make new ground in pursuing opening-up on all fronts, improve government management, and foster new growth drivers and competitiveness.
China launched its first FTZ in Shanghai in 2013. In late 2014, Guangdong, Tianjin and Fujian were allowed to set up the second group of FTZs. Another seven were added across the country in August 2016.
