V. Expanding pilot Free Trade Zones (FTZs)
In September, China announced the establishment of a new pilot FTZ in Anhui province and the expansion of the existing pilot FTZ in Zhejiang, along with two new pilot FTZs in Beijing and Hunan province. With this, the number of FTZs in China has risen to 21.
In the first seven months of this year, more than 3,300 new foreign-funded enterprises entered 18 pilot FTZs. With a total land area of less than 0.4 percent of the country, they saw 90 billion yuan in utilized foreign capital and 2.7 trillion yuan in imports and exports, respectively 16.8 percent and 13.5 percent of the nation’s total.