MOFCOM Promotes Innovative Development of Pilot FTZs

On August 27, the Ministry of Commerce (MOFCOM) released Opinions on further innovation and development of the four pilot free trade zones in Shanghai, Tianjin, Fujian, and Guangdong.

The Opinions include 26 specific measures in three main categories:

• Upgrading foreign trade

• Reducing foreign investment thresholds

• Improving the competitive environment  

The Opinions call for greater freedom for the pilot free trade zones in creating and implementing innovative measures to improve customs service, and to support development of cross-border commerce in services. Specifically, the Opinions task Shanghai FTZ with facilitating electronic port construction, and Tianjin FTZ with developing an APEC green supply chain pilot network.