CHINA-INTERNAL; ECONOMY

 'Outlook Weekly', affiliated to China's official news agency Xinhua, reported on June 4, 2014 that the central authorities have suspended the establishment of Free Trade Zones (FTZ)s till the objectives of establishing FTZs is clear to the provincial authorities and problems related to the Shanghai FTZ are sorted out. Outlook Weekly said top policymakers are "unsatisfied" with problems that emerged in the applications. Sources were quoted as saying that "the purpose of launching the FTZs is for deepening reforms and further opening-up, but many local authorities have not grasped the central government's intention".  Meanwhile, more than 20 local governments listed the establishment of FTZs as an objective in their government work reports for 2014, after the Third Plenum decision noted that "China will pick some regions to develop FTZs on the basis of the trial [in China (Shanghai) Pilot Free Trade Zone]." 

Wang Xinkui, an expert participating in drafting the FTZ plan, told Outlook Weekly that the "FTZ is not a place of preferential policies, but a test ground for institution innovation."






Subscribe to Newswire | Site Map | Email Us
Centre for China Analysis and Strategy, A-50, Second Floor, Vasant Vihar, New Delhi-110057
Tel: 011 41017353
Email: office@ccasindia.org