China to advance FTZ construction to expand opening-up

China (Shanghai) Pilot Free Trade Zone [Photo / Xinhua]

China has pledged to continue pushing forward the construction of pilot free trade zones (FTZs) to widen opening-up, a commerce ministry official said Wednesday.

The country will explore the opening of free trade ports with Chinese characteristics and accelerate the formulation of related policies and mechanisms, said Assistant Commerce Minister Ren Hongbin at a press conference of the State Council Information Office.

Meanwhile, more efforts will be made to expand the Shanghai FTZ and encourage Shanghai to promote trade and investment liberalization, Ren said.

Apart from alleviating managerial barriers to foreign investment in pilot FTZs, China will enhance openness in key spheres such as medicare and education.

Ren added China will unveil more measures for innovation and expanding opening-up in FTZs, and prioritize FTZs in implementing key reform measures.

At the press conference, Xin Guobin, vice minister of industry and information technology, also said the ministry will adopt a model of pre-establishment national treatment with a negative list and introduce opening-up measures in automobile, shipping and aircraft industries.