Taiwan prepares to get Fair Trade Zone benefits

World Today

China has approved three more free trade zones. The country already has one in Shanghai. It opened a year and a half ago. The zones are meant to pave the way to liberalizing the financial sector. One of the new zones will be in northern metropolis of Tianjin. The other two will be in the southern Guangdong and Fujian provinces. CCTV’s Liu Yang filed this report from Fujian Province.

Taiwan prepares to get Fair Trade Zone benefits

Taiwan prepares to get Fair Trade Zone benefits

China has approved three more free trade zones. The country already has one in Shanghai. It opened a year and a half ago. The zones are meant to pave the way to liberalizing the financial sector. One of the new zones will be in northern metropolis of Tianjin. The other two will be in the southern Guangdong and Fujian provinces. CCTV's Liu Yang filed this report from Fujian Province.

Highlights:

  • Though details on the Free Trade Zones have yet to be released, Chinese business owners hope it will bring policies to make international trade more efficient and convenient, such as exchange rate measures to allow transactions in a single currency.
  • As China’s economy slows, preferential policies are increasingly in demand to boost the local economy.