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The Chinese Central People’s Government has published plans to open wider three free trade zones along the coast of China, Xinhua reports.
The Chinese state-run news agency, citing a document issued by the State Council, or cabinet, says the thrust of the changes in the FTZs in Guangdong, Tianjin and Fujian is to build institutional systems that follow international rules on investment and trade.
The report says the authorities in charge of the FTZs will have greater power to make decisions, with a view to improving management of the zones.
In the Guangdong FTZ, the plan is to promote freer trade in services among Guangdong, Hong Kong and Macao, so the zone can serve as an example for the rest of the Guangdong-Hong Kong-Macao Greater Bay Area, Xinhua says.