More than a year after the successful launch of the China (Shanghai) Pilot Free Trade Zone (FTZ), additional FTZs are preparing to open as China pursues reforms to invigorate the slowing economy.
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The Political Bureau of the Communist Party of China (CPC) Central Committee approved plans for three experimental FTZs in Guangdong, Tianjin and Fujian, signaling a countdown to their launch.
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The Shanghai Securities News cited anonymous sources as saying the launch date for all three has been "basically" set for March 31.
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Related shares rose across the board on Wednesday, with Tianjin Port Co up 4.26 percent to close at 21.8 CNY (3.5 USD) per share.
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The three new FTZs are expected to tap their unique geographical and industrial strengths. Although the details of the plans are yet to be unveiled, analysts said the Guangdong FTZ will carry out programs for economic integration with Hong Kong and Macao. Fujian is expected to stress unified development with Taiwan, while Tianjin will focus on coordinated growth with Beijing and Hebei province.
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FTZs are part of government efforts to test reform policies, especially in the service industry, to better integrate the economy with international practices in a landscape where China's old export-reliant model is no longer sustainable.
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Unwilling to be left behind, local governments have expressed a desire to ride the wave. During China's annual parliamentary session this year, regional delegates proposed inclusion among the next set of FTZs. They raised proposals for an FTZ along the Yangtze River in central China's Wuhan and an FTZ for the Silk Road Economic Belt in Shaanxi Province.
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 More than a year after the successful launch of the China (Shanghai) Pilot Free Trade Zone (FTZ), additional FTZs are preparing to open as China pursues reforms to invigorate the slowing economy.
