(MENAFN) China’s pilot free trade zones (FTAs) should benefit from greater independence in the conduct of reforms, given their role in accelerating the country’s institutional innovation over the past eight years , since the establishment of the first in Shanghai.
A main reform rally highlighted efforts to step up the openness of high-level institutions, promising reforms to build pilot free zones into free trade parks with global control and competitiveness.
The 20th meeting of the central committee for the extension of the general reform, Friday July 9, studied and accepted a series of documents, including measures aimed at pushing innovation in the facilitation of trade and investments in the pilot free zones .
China set up its first free pilot zone in Shanghai in 2013. After five growth cycles, China now has 21 pilot free zones, which show the new ground of excellence for the improvement and opening up of the country.
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