Guangdong Free Trade Zone (FTZ) will start running after the authorization from central government very soon, Li Chunhong, Director of Guangdong Development and Reform Commission spoke on the first press conference of the 3rd Session of the 12th Guangdong Provincial People’s Congress on Feb. 10.
Guangdong Free Trade Zone (FTZ) will not be only offered privileges like once did. “Central government has a very clear principle on the construction of FTZ, that trial policies created from the innovation of system and mechanism must able to be duplicated and popularized to other places in China. FTZ is no longer a privilege place but a trading area with higher standards” Li said.
Three parts of the FTZ are defined from Nanhai New District, Guangzhou, Hengqin New District, Zhuhai, and Qianhai New District, Shenzhen. “Three parts of FTZ will function differently” Li said, “Qianhai will mainly serve Hong Kong business; Hengqin supports Macau diversity of economy; Nanhai pays more attention on international trade”.
For investors from Hong Kong and Macau, Li promised opener and freer investing environment to them under the structure of FTZ and Closer Economic Partnership Arrangement (CEPA).
Li said “the construction of Guangdong FTZ benefits the long-term economic and social prosperity of Hong Kong and Macau. It also plays a very important role on Guangdong that open wider to the world.”
Click 2015 Guangdong Legislative & Consultative Session to read the special report.