Business Tianjin Magazine

alt Investors from abroad will get wider scope in business operations, choice of industries

A new free trade zone in North China will allow foreign investors to participate in China's ancient salt trade for the first time. The decision comes just months after the central government decided to scrap the country's 2,000-year-old monopoly on salt and open the business to domestic private traders.

The Tianjin Pilot Free Trade Zone will allow foreigners to establish sole-proprietor businesses, rather than joint ventures, and invest in salt wholesaling, according to Zong Guoying, a deputy to the National People's Congress and head of the Tianjin Binhai New Area.

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