Just more than a year after the successful launch of the China (Shanghai) Pilot Free Trade Zone (FTZ), the government is planning several similar zones to invigorate the faltering economy.

 

The decision to establish three free trade parks in Guangdong and Fujian provinces, and Tianjin Municipality, was announced after a State Council executive meeting last week in hopes of replicate the Shanghai model's success.

 

The new parks will focus on the experimental policies made in the Shanghai zone, but will also be allowed to add new elements according to local conditions, said the statement released after the meeting.

 

The Shanghai FTZ was launched in September 2013 to test a broad range of economic reforms, including interest rate liberalization and less investment restrictions. 

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