GUANGZHOU — The Guangdong free trade zone (FTZ) is making institutional innovations, introducing new systems every three days on average, the provincial FTZ office said on May 24.
Since being established three years ago, the FTZ has made 385 institutional innovations to explore new systems in the open economy, build an opening-up gateway and deepen cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area, according to the office.
As of December 2017, a total 210,000 new enterprises have settled in the FTZ including 9,639 foreign-invested enterprises.
Vice-Premier Han Zheng on May 23 called for institutional innovations in the development of pilot FTZs.
He said the Guangdong FTZ should treat institutional innovation as a core task and strive to establish systems that could be replicated.