Since the establishment of its first Free-Trade Zone (FTZ) in Shanghai in 2013, the Chinese mainland has launched a total of 22 FTZs. These zones stretch from coastal hubs to central inland regions and border provinces, playing a pivotal role in advancing China’s high-quality reform and opening up.
In the first two months of this year, the total volume of foreign trade within these FTZs saw an impressive 11.7% year-on-year increase. Notably, FTZs in Guangdong, Jiangsu, Sichuan, and Hebei provinces experienced growth rates exceeding 30%, while Hainan Province reported an over 20% rise, according to data from the General Administration of Customs.
Building on this momentum, China introduced both a national and a pilot FTZ version of the negative list for cross-border trade in services in late March. The national negative list comprises 71 items, marking the first time China has established such a framework at the national level.
The pilot FTZ version includes 68 items covering areas like occupational qualifications, professional services, finance, and culture. These measures are designed to align China with international economic and trade standards, further enhancing institutional openness and facilitating smoother cross-border trade in services.
Reference(s):
FTZs set pace for China's high-quality reform and opening up
cgtn.com
