New Chinese FTZ to help deepen economic ties with Taiwan: Xinhua

22 Apr11:20 PM

[BEIJING] A pilot free trade zone (FTZ) that opened this week in China should help deepen economic ties with Taiwan, the official Xinhua News Agency said on Wednesday.

Chinese Premier Li Keqiang visited the FTZ in the southeastern province of Fujian, across the straits from the self-governed island of Taiwan which China regards as a renegade province, the day after it opened on Tuesday, Xinhua reported.

Another new pilot FTZ in the southern province of Guangdong should help integrate Hong Kong and Macau, while one in the city of Tianjin should help coordinate development in and around nearby Beijing, Vice Premier Wang Yang said at a government meeting, according to Xinhua.

The three new FTZs will copy the model of the Shanghai FTZ established in 2013 as a testing ground for looser rules governing currency conversions and foreign direct investment.

REUTERS