China's Ministry of Commerce will leverage the free trade zones (FTZs) to further expand opening up in sectors of commodities, services, capital and some other fields, an official with the ministry said in Beijing on Friday.
Speaking at a press conference, Zhu Bing, director of the Department of Foreign Investment Administration, said the ministry will promote the FTZs to carry out pilot explorations on further opening up.
According to Zhu, the ministry is in the process of formulating a series of documents to introduce a set of reform measures aimed at finding more successful experiences that are replicable and scalable in further deepening reform comprehensively.
"In the opening up of key areas, we will conduct in-depth research on leveraging the FTZs to further open the markets of commodities, services and capital. We will focus on the negative lists for foreign investment and cross-border trade to pioneer opening up in relevant sectors," said Zhu.
The ministry will also support the FTZs to conduct differentiated explorations in areas such as bulk commodities and biomedicine, aiming to promote innovation and development across entire industry chains.
China's commerce ministry to leverage FTZs to further expand opening up
