07:52 GMT +321 October 2019
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    Seven New Free Trade Zones to Be Created in China

    © AFP 2019 / MARK RALSTON
    Asia & Pacific
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    Seven new free trade zones will be created in China in addition to the four zones that already exist in the country, China’s State Council said on Friday.

    BEIJING (Sputnik) — According to the Council's statement, the new zones will be created in the Liaoning, Zhejiang, Henan, Hubei, Sichuan, Shaanxi provinces and the Chongqing municipality.

    As of today, there are four free trade zones in China, namely in Shanghai, Tianjin and Guangdong and Fujian provinces.

    In July 2016, China’s State Council eased the rules for foreign investors in the four free trade zones. Among other measures taken by the country’s authorities, investors were temporarily allowed to establish wholly-owned subsidiary companies in the free trade areas.

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