Business
China's Ministry of Commerce announced Friday that pilot measures from the Shanghai Pilot Free Trade Zone will be expanded nationwide to accelerate institutional innovation, deepen reforms, and drive high-quality development through rigorous opening-up.
Over the past year, the Shanghai Free Trade Zone has implemented 80 measures as part of its pilot program to fully align with international high-standard economic and trade rules. These include pioneering trials, deeper reforms, newly introduced opening-up measures, and preferential policies for enterprises, all contributing to free trade solutions aimed at steadily expanding institutional opening-up.
"The Ministry of Commerce will work with relevant local departments to promote the compatibility of rules, regulations and management standards on a larger scale and fully release the dividends of institutional opening up. At the same time, we will support the free trade zones by giving full play to their role as comprehensive experimental platforms for reform and opening up, and carrying out institutional opening-up experiments in broader fields, at deeper levels and with greater intensity," said He Yongqian, Deputy Director General for the Coordination of Pilot Free Trade Zones and Port of the Ministry of Commerce.