Tianjin is applying for a free trade zone of its own after the first one was opened late last month in Shanghai.
Zong Guoying, head of the Tianjin Binhai New Area, confirmed yesterday that the area has completed a draft plan for the zone, and all documentation was with the central government.
“We are optimistic that the plan will get approval but we are not certain,” said Zong, also vice mayor of Tianjin.
“No matter what, we will continue to open up,” Zong said, noting that the Tianjin Binhai would explore a “negative list” approach for investment.
The proposed Tianjin FTZ will be centered on the Tianjin Dongjiang Bonded Area, which covers an area of 10 square kilometers. Tianjin has listed the upgrading of the bonded area into an FTZ as a priority this year.
Zhou Liqun, a professor with Nankai University, said the Tianjin FTZ would need to progress step by step.
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