30-08-2019

On 26 August 2019, the State Council announced the new “China Pilot Free Trade Zone Overall Plan”, adding six new pilot free trade zones (FTZs) in Shandong, Jiangsu, Guangxi, Hebei, Yunnan and Heilongjiang provinces, increasing the total number of FTZs in Mainland from 12 to 18. 

The newly established FTZs will tap into their geographical advantages to deepen trade and economic cooperation with neighbouring countries and regions.  For example, Shandong will focus on developing economic cooperation with Japan and South Korea, Guangxi will focus on establishing trade routes with ASEAN, Yunnan will promote Bangladesh-China-India-Myanmar Economic Corridor, while Heilongjiang will step up regional cooperation with Russia and Northeast Asia.

This overall plan also seeks to attract Hong Kong professionals to settle in FTZs.  Shandong, Jiangsu, Guangxi and Yunnan will allow Hong Kong professionals to work in FTZs; Guangxi will open a green channel facilitating Hong Kong talents to work and start businesses in FTZs, while Shandong and Jiangsu will allow Hong Kong people to set up wholly-owned medical institutions.

For details, please see:
Notices No.16 of 2019 of the State Council (Chinese Version Only)
http://big5.www.gov.cn/gate/big5/www.gov.cn/zhengce/content/2019-08/26/content_5424522.htm

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