Expert: Central and western regions are expected to add free trade zones

The 2020 government work report proposes to give the Pilot Free Trade Zone greater autonomy for reform and opening up.

The 2020 government work report proposes to give the Pilot Free Trade Zone greater autonomy for reform and opening up.

It will speed up the construction of the Hainan Free Trade Port, establish free trade trial zones and comprehensive bonded zones in the central and western regions, increase pilot projects for the opening and expansion of service industry.

Sun Yuanxin, deputy dean of the Free Trade Zone Research Institute of Shanghai University of Finance and Economics, said that it is expected that the construction plan for the Hainan Free Trade Port will be introduced at an appropriate time this year.

In addition, the plan to deepen reform of the National Pilot Free Trade Zone is also expected to be studied and promulgated.

For example, the 4.0 version of the overall construction of the Shanghai Free Trade Zone, the 3.0 version of the Guangdong Free Trade Zone and the Fujian Free Trade Zone.

Sun Yuanxin also expected that the central and western regions will set up additional free trade zones. Among them, the government has done a lot of work in Hunan, Xinjiang, Inner Mongolia and other places in the early stage, and it would be very possible for the establishment of the pilot projects there.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/24/expert-central-and-western-regions-are-expected-to-add-free-trade-zones/.

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