China to support free trade zones

China’s Ministry of Commerce (MOC) issued guidelines on supporting the innovative development of free trade zones in Tianjin, Shanghai, Fujian Province and Guangdong Province on Thursday.

The ministry will support lowering the investment access threshold in these free trade zones.

Particularly, it will consider further abolishing or loosening the access restrictions on the qualification, shareholding and business scope of service providers from Hong Kong and Macao in free trade zones of Guangdong Province.

Besides this, the ministry also proposed to promote the transformation and upgrading of foreign trade in free trade zones, and optimize market competition environment in the guidelines.

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