China has expanded its pilot free trade zones (FTZs) to 23 with the establishment of the China (Inner Mongolia) Pilot Free Trade Zone, the latest move in the country's sustained push for high-standard opening up, according to a plan made public by the State Council on Thursday.
The plan grants the new pilot FTZ in north China's Inner Mongolia Autonomous Region greater reform autonomy and encourages pioneering. It specifies 19 reform and innovation measures, including developing border trade in an innovative way, strengthening international logistics services, improving the efficiency of technology transfer and application, and expanding external exchanges across multiple fields.
The new pilot FTZ is located along the border and enjoys inherent advantages for opening up to the north, which is conducive to expanding international circulation, said Yuan Xiaoming, assistant minister of commerce at the press conference on Friday.
He added that the new pilot FTZ also contributes to strengthening the domestic large-scale circulation, promoting regional coordinated and interactive development, and achieving internal and external connectivity, mutual promotion, and common progress.
The establishment of the new pilot FTZ is an important strategic move to further deepen reforms comprehensively, advance high-standard opening up, and promote high-quality development, according to the plan.
The pilot FTZ covers 119.74 square kilometers and comprises three sub-zones in Hohhot, capital of the autonomous region, Manzhouli, a northern border city, and Erenhot, a land port on the China-Mongolia border, each tasked with differentiated functions and the development of industries tailored to local conditions.
China had earlier established 22 pilot FTZs in areas including Shanghai, Guangdong, Liaoning, Hainan, Shandong and Beijing. The country will move faster toward all-around opening-up through links running eastward and westward, across land, and over sea, according to the outline of the 15th Five-Year Plan (2026-2030).
(With input from Xinhua; cover via VCG)
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