Greater Opening Up to Overseas Investors Planned for Three Pilot FTZs
13 July 2017
A recent meeting of the Central Leading Group for Deepening Overall Reform emphasised the need to introduce a number of key reforms, while enhancing overall coordination, in the case of the Guangdong, Tianjin and Fujian Free Trade Zones (FTZs). It was also noted that the three FTZs had, to date, played an important pilot role in the deepening of overall reform and the wider opening up to foreign investors over the two years since they were first launched. In terms of future priorities, it was agreed that management teams of the three zones should bear in mind the need to adapt to changing circumstances and new problems. At the same time, more sectors need to be opened up to foreign investors, while the zones also need to promote a national programme of reform and opening up through innovation-driven development.
The following priorities were also formally agreed upon:
- Completing the reform of state-owned enterprises before the end of 2017, while strictly implementing the agreed decision approval procedures and guarding against any loss of state-owned assets.
- Promoting the harmonisation of GDP calculations and improving the quality of data audits, while also drawing up proposed measures for the censure of any individuals/bodies found responsible for transgressing the relevant laws and disciplinary regulations. Additionally, specifying the procedures for the investigation, penalty administration and other related matters with regard to any transgressions of the relevant laws and disciplinary regulations.
- Establish an online-only court in Hangzhou with responsibility for handling internet-related cases and exploring procedural rules and improving the judicial mechanism necessary to promote the comprehensive integration of the internet with wider socio-economic developments.
For further details (in Chinese), please refer to the following website: