综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Business / Economy

China creates new FTZs and expands old to facilitate reforms

(Xinhua) Updated: 2014-12-30 06:50

BEIJING -- China has expanded its free trade zone (FTZ) in Shanghai and established 3 new zones with eased investment rules to speed up reforms amid economic hardship.

The new zones and expansion of the Shanghai pilot zone were authorized during the bi-monthly meeting of the National People's Congress on Sunday.

Government approvals will end as a precondition for overseas companies setting up ventures or changing their purpose of business in these zones. Instead the companies only need to file a report to the authorities, according to the meeting.

The adjustment will take effect in March and will last for three years, after which official assessment will decide whether the policy should continue.

The move met market expectations that restriction on foreign capital will be gradually scrapped and marked the latest efforts by the central government to push its reform drive and stimulate the economy.

Policy makers vowed more efforts to reform and open up during a top-level economic policy meeting in the beginning of the month, which means foreign companies can expect more opportunities with widening market access.

China has managed to keep a steady but safe pace in opening its market to global competitors in order to shore up economy and avoid mistakes, which, even if small, could be costly to the world's second largest economy.

But thanks to the FTZs, the country can test opening-up measures with limited risks in small but critical business areas.

Li Wenpu, vice-president of the school of economics of Xiamen University, described the FTZs as a pressure test for reform and said the free trade zones will press ahead further measures including streamlining administration and delegating powers.

The meeting said China will expand the Shanghai FTZ to include the city's commercial and financial center Lujiazui, as well as Jinqiao and Zhangjiang districts.

"The FTZ expansion will help explore new paths and accumulate experience for the country's further and overall reform," said Li Guanghui, vice-president of Chinese Academy of International Trade and Economic Cooperation.

It will test China's reform policies in a broader area and also the feasibility to promote pilot measures in Shanghai to other regions, Li Guanghui added.

Using similar terms, Commerce Minister Gao Hucheng said the expanded Shanghai FTZ will test innovative and opening-up measures including foreign investment management, service sector opening up and more flexible supervision.

The meeting specified the geographic limits of trade zones in Guangdong, Fujian provinces and Tianjin municipality, the establishment of which was announced by the central government earlier this month.

Gao said the three new zones will shoulder distinct responsibilities in the economic opening up.

Li Guanghui said the Guangdong FTA will be centered on Hong Kong and Macao economic integration and benefit the upgrading of China-ASEAN trade. Fujian's trade zone will strengthen ties with Taiwan and the Tianjin FTA will serve to coordinate development among Beijing, Tianjin and Hebei province.

Since the launch of the Shanghai FTZ in September 2013, 27 reform measures concerning foreign investment management, trade supervision and corporate annual reports have been copied and applied in other parts of China.

Hot Topics

Editor's Picks
...
和平区| 晋中市| 城固县| 临沧市| 灵川县| 英吉沙县| 图木舒克市| 申扎县| 黄大仙区| 宁城县| 枣庄市| 洪泽县| 唐海县| 南华县| 合江县| 兴安盟| 芦山县| 三河市| 册亨县| 鄂伦春自治旗| 巴里| 恭城| 鸡西市| 施甸县| 天祝| 阳城县| 永城市| 德庆县| 奎屯市| 清河县| 得荣县| 喜德县| 绵阳市| 邵阳市| 林州市| 榆树市| 叙永县| 繁昌县| 都安| 鄂州市| 大名县|