China’s State Council issued a guideline on Friday prioritising land use for the country’s 12 free-trade zones. All ministerial-level authorities and local governments have been urged to build these zones into gateways that connect foreign investors with the mainland economy, according to an article from South China Morning Post.
The guideline is being viewed as a precursor to a series of drastic liberalisations, which follow comments by Chinese President Xi Jinping on November 5 that Shanghai would get a much larger FTZ with fresh incentives to attract global investors. He was speaking during the opening of the China International Import Expo.
According to the guideline, “priority will be given to the development of FTZs” when authorities map out land use plans. It said: “Healthy and orderly development of the zones will be ensured.”
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