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Source: People's Republic of China – State Council News
BEIJING, Dec. 9 (Xinhua) — China's pilot free trade zones (FTZs) have achieved significant results in institutional innovation during the 14th Five-Year Plan period (2021-2025), according to the latest data from the Ministry of Commerce.
The 22 pilot FTZs established in various parts of China as a strategic step in promoting reform and opening up to the outside world have produced nearly 200 achievements in institutional innovation over a five-year period.
With the government actively encouraging bold exploration based on the specific conditions of different regions, the Zhejiang Pilot FTZ, for example, focused primarily on innovation in the commodity sector, while the FTZs in Jiangsu and Shandong provinces focused on innovation across the entire production chain of biopharmaceuticals and the marine economy, respectively.
Another example is the expansion of high-level openness through the creation of a high-standard network of pilot FTZs, primarily the Shanghai FTZ and the Hainan Free Trade Port. Efforts were aimed at aligning them with high-level international trade and economic rules, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA).
The introduction of a set of pilot measures covering key areas such as trade, investment, intellectual property rights, public procurement and environmental protection has enabled these FTZs to gain advanced experience and develop typical practices, and their replication on a larger scale will help open up new horizons for economic growth.
Data from the Ministry of Commerce show that in 2024, the share of pilot FTZs in China's foreign trade sector and in the sector of foreign investment attracted to the country reached 19.6 and 24.3 percent, respectively.
During the 15th Five-Year Plan period (2026-2030), China intends to implement a strategy to modernize its pilot free trade zones. Chinese Minister of Commerce Wang Wentao stated that the Ministry of Commerce will work with other relevant agencies and local governments to further enhance institutional openness, the effectiveness of systemic reform initiatives, and the quality of an open economy.
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