Detailed plans for four FTZs announced
After more than one year's operation, the State Council decided to expand its coverage to 120.72 square meters, bringing in Jinqiao Export Processing Zone, the Zhangjiang High-Tech Park and the financial center Lujiazui, all of which are currently located in Shanghai's Pudong New Area.
FTZ expansion
With its success, Chinese president Xi Jinping said the experience gained at the China (Shanghai) Pilot Free Trade Zone can be replicated in more places "as soon as possible".
Three more FTZs in Guangdong, Tianjin and Fujian were approved and are expected to be officially launched this year.
The Guangdong FTZ, with a total area of 116.2 square km, includes zones in the cities of Guangzhou, Shenzhen and Zhuhai, specifically to attract investment from Hong Kong and Macao.
The Fujian FTZ, with a total area of 118.04 square km, will include industrial areas in the provincial capital of Fuzhou, the city of Xiamen, and Pingtan, a new industrial park targeting Taiwan investment.
The Tianjin FTZ, with a total area of 119.9 square km, will consist of three sections around the Tianjin Port, Tianjin Airport and the Binhai New Area industrial park.
