The State Council has recently distributed the Scheme on Further Intensifying Reform and Opening-up in the China (Guangdong) Pilot Free Trade Zone, the Scheme on Further Intensifying Reform and Opening-up in the China (Tianjin) Pilot Free Trade Zone and the Scheme on Further Intensifying Reform and Opening-up in the China (Fujian) Pilot Free Trade Zone (collectively as the "Schemes").
According to the Schemes, with the focus on developing into a pioneering area featuring the new open economic system, a hub boasting high-level reform and opening-up moves and a demonstration region for the Guangdong-Hong Kong-Macao Greater Bay Area, measures in 18 respects are put forward for the Guangdong Pilot Free Trade Zone (FTZ), including creating the exemplary window for the pilot opening-up of the finance sector and promoting the service and trade facilitation within the Guangdong-Hong Kong-Macao Greater Bay Area in a deep-going manner. The Tianjin FTZ will concentrate its efforts on creating the new open economic system and building the demonstration region of coordinated development for the Beijing-Tianjin-Hebei Region, and the Schemes propose 16 initiatives to, for example, put in place an innovative mechanism of market-based element allocation and make progress in nurturing cutting-edge and emerging technologies. As to the Fujian FTZ, the Schemes state that major attention shall be paid to enhancing the level of government administration, deepening cross-strait economic cooperation and accelerating establishing center areas for the 21st Century Maritime Silk Road, by adopting 21 measures, including creating high-standard international business environment and strengthening financial cooperation between Fujian province and Taiwan region.