China Unveils Plans for Beijing, Hunan, Anhui and Zhejiang Free Trade Zones

The State Council recently issued a circular outlining its master plan for the Beijing, Hunan and Auhui Pilot Free Trade Zones and the regional expansion of the Zhejiang Pilot Free Trade Zone (Guo Fa No. 10 [2020]). According to the plan:

• The Beijing zone will provide new avenues for the co-ordinated development of Beijing and Tianjin.

• Hunan will focus on building an international investment and trade corridor linking the Yangtze River economic belt and the Guangdong-Hong Kong-Macao Greater Bay Area.

• Anhui will promote integrated and high-quality development in the Yangtze River Delta.

• Expansion in the Zhejiang zone covers the three areas of Ningbo, Hangzhou and Jinyi (including the Yiwu Comprehensive Bonded Area). (The existing Zhejiang Pilot Free Trade Zone was established in 2017, and consists of three areas on Zhoushan Island).

Source: State Council