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Vice-premier urges improving quality of FTZ construction

Updated: May 5,2017 5:19 PM

Vice-Premier Wang Yang emphasized the significance of improving the quality of construction of pilot free trade zones (FTZ).

At a seminar on May 4 in Shanghai, attended by provincial leaders, Wang stressed that constructing pilot FTZs is a strategic measure taken by the Party Central Committee to comprehensively deepen reform and widen opening up.

Governments at all levels should thoroughly learn and implement the important instructions from President Xi Jinping and Premier Li Keqiang, by firmly fulfilling the new development concept, keeping up with advanced international standards, and enhancing system innovation, to further demonstrate the function of FTZs as experimental field of the reform and opening up, according to the vice-premier.

He praised the great advancements made by pilot FTZs over the past four years, with a slew of significant outcomes duplicated and expanded to the whole nation, thus playing a leading role in the country’s overall development.

Wang also said that new situations require the free trade zones to meet higher standards. Greater efforts should be made in cutting the negative list for foreign investment, to create an internationalized business environment in accordance with the rule of law.

Supervision should also be improved to guard against potential risks. Experiments are encouraged to cultivate competitiveness in different FTZs based on their own conditions. More successful experiences of higher quality should be promoted nationwide in an efficient way.

Authorities should further open their minds to encourage local regions to make broad explorations, Wang added.