President Xi Jinping has called for greater efforts to be made to boost construction in free trade zones (FTZ).
In a recent statement on the Shanghai Pilot Free Trade Zone, President Xi described it as a strategic move that has been taken by the central authorities to deepen reforms and continue opening up.
Priority should be given to identifying the key tasks necessary for the FTZ to achieve greater success in institutional innovation which could then be copied and promoted nationwide, President Xi stressed.
Premier Li Keqiang has praised the achievements of the Shanghai Pilot Free Trade Zone in the past three years.
“The Shanghai Pilot Free Trade Zone’s success has laid a solid foundation for the government to further deepen reform and opening up,” he said in a statement.
During the next stage of development of free trade zones, the key tasks are to drive reforms, further transform government functions while stimulating the market’s vitality in an effort to gain momentum in international competition and push the Chinese economy to a higher level, according to the Premier.