Stock link bid for HK, Shenzhen

By ZHAO YINAN (China Daily) Updated: 2015-01-06 04:49

The name plate of the China (Shanghai) Pilot Free Trade Zone on a gate of the Waigaoqiao free trade zone in Shanghai. ZHAO YUN / FOR CHINA DAILY

It is expected to be more open and closely connected with Hong Kong and Macao, especially through the Closer Economic Partnership Arrangement, a pact aimed at building closer economic ties between the three areas.

The Guangdong zone, covering 116.2 square kilometers, includes Qianhai and Shekou Industrial Zone in Shenzhen, Hengqin in Zhuhai and Nansha in Guangzhou.

Li said reforms and opening-up do not equate to high-rises and metropolises, but rather to the talent and services inside the buildings.

Zhu said the Guangdong FTZ will mark the boundaries between regulatory power and the market, clarify the government's responsibilities and its legitimate supervisory area.

"As the starting point of China's ancient Silk Road, Guangdong aims to become an important transportation hub for the country's proposal to build a maritime silk road linking Southeast Asian countries with the northern part of China," he said.

Tang Shiqi, a professor at Beijing Normal University in Zhuhai, suggested the three areas of the Guangdong FTZ should maintain a different focus during its development.

Qianhai Cooperation Zone should continue to focus on the development of the high-end services industry, while Hengqin should mainly cover tourism, commercial services and high-tech industries. Nansha, the largest area in the zone, should upgrade its port facilities and promote manufacturing industries, he said.

Pan Zhihong, deputy head of the China Society of Economic Reform Journal Agency, said Li's visit pushed governments to implement the reform policies hammered out by the central government last year, as 2015 will be key to the full operation of these reforms.

China to ease investment rules in Free Trade Zones

The Chinese government has been authorized to ease investment rules in three new free trade zones (FTZs) after top legislature gave the go ahead during a bi-monthly meeting on Dec 28.