Reforms in FTZs to be Coordinated
Release time:2017-02-26

Reforms in FTZs to be Coordinated

[A signboard of the Shanghai Pilot Free Trade Zone in the Waigaoqiao area in Pudong, Shanghai, December 23, 2014. [Photo: CRIENGLISH.com/ Min Rui]]

China will set up a joint session system to ensure better inter-department coordination on reforms in the Shanghai Pilot Free Trade Zone and then promote successful reforms nationwide. 

To be led by the Ministry of Commerce, the joint session will gather 30 state departments and units like the National Development and Reform Commission, the Ministry of Industry and Information Technology and the central bank. 

The function of the session is to coordinate reforms in the pilot free trade zones nationwide and to replicate those experiences across the rest of the country. 

One of the major challenges in pushing reform is the lack of coordination. Currently, the launch of one new policy in China might require approval of several departments. 

China has announced that the country will form three new pilot FTZs in Tianjin as well as Guangdong and Fujian provinces, following the one set up in Shanghai in 2013.