Tuesday 16th April 2024
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Tuesday 16th April 2024
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गृहपृष्ठInternationalAs world grapples with coronavirus pandemic, China sets up three new free-trade zones

As world grapples with coronavirus pandemic, China sets up three new free-trade zones

Move demonstrates Chinese efforts to further open up its economy


KATHMANDU: In an indication of further opening up of its economy even as the coronavirus pandemic ravages the world, China has established three new free-trade zones (FTZs).  According to news reports, China has set up new free trade zones in Beijing, Hunan and Anhui.

As part of efforts to build the city into a globally influential technology and innovation center, Beijing’s FTZ will focus on next-generation information technology, biology and technology services, and in building a pilot zone for the digital economy and a global investment center for start-ups, according to state-affiliated English newspaper Global Times.

Another FTZ in Hunan will focus on improving overseas investment and international cooperation, in particular with African countries and those along the Belt and Road Initiative.

Anhui’s FTZ is expected to boost the region’s development and high-end manufacturing, integrated circuit, artificial intelligence and cross-border ecommerce industries.

“The move demonstrates an effort to further open up as the coronavirus pandemic continues and unilateralism rises globally,” the Global Times wrote.





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