China’s MOFCOM endorses FTZ construction in Fuzhou

Bya897204973

Updated Fri, 16 Jan 2015 14:26:47 GMT

A think tank from the Ministry of Commerce (MOFCOM) arrived in Fuzhou on Jan 5 to study development plans regarding the construction of the free trade pilot zone (FTZ).

The think tank is made up of an expert team who provide remote support from Beijing, and a research team who will carry out specific tasks in Fuzhou.

Together with Pingtan and Xiamen, Fuzhou was recently approved by China’s central authorities for the establishment of an FTZ in Fujian province.

The FTZ in Fuzhou covers an area of 31.26 sq km in the Fuzhou Economic and Technology Development Zone and the Fuzhou Bonded Port Area. It is expected to be officially inaugurated by March.

Authorities are racing against time studying pilot programs and the overall administrative and working mechanism.