China has expanded its pilot free trade zones (FTZ) to 23 with the establishment of the China (Inner Mongolia) Pilot Free Trade Zone, according to a plan made public by the State Council.
The plan specifies 19 reform and innovation measures, including developing border trade in an innovative way, strengthening international logistics services, improving the efficiency of technology transfer and application, and expanding external exchanges across multiple fields.
It aims to build the pilot FTZ into a hub for information exchange, transportation and logistics, allocation of factor resources, sci-tech innovation and industrial cooperation in key areas, connecting domestic and international markets while radiating to neighboring regions.
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