In a bid to ascertain the flow of business since the slowing of its economic growth, China is to establish three new free port trading zones in the northern, eastern and southern parts of the country.
According to China Topix, the trading zones will take after the model used in the Shanghai Free Trade Zone (FTZ) in 2013; however, the zones will still possess their own local characteristics.
The Chinese State Council believe that the new free port zones will enable each region to promote and encourage trade from local and foreign businesses, as well as provide further business experimentation.
Some investors however have shown concerns over how efficient the zones will be because it appears as though they will not offer any major advantage to domestic and foreign companies in the local region.
These concerns were exacerbated by civilian and government upheaval that Shanghai FTZ was involved in corrupt scandals.
In addition to these free trade zones, China is said to be looking to accommodate more types of industries, such as the service and the manufacturing sectors.
China in Free Port Trade Zone Plan. (Source: Daily Mail)