The Guangdong free-trade zone (FTZ) was officially launched on Tuesday, marking another step forward in China’s efforts to open its economy wider to international investors.
The launch ceremony took place in Nansha district in Guangzhou, with top provincial officials in attendance, according to Guangdong news portal newsgd.com.
Covering an area of 116.2 square kilometers, the FTZ will encompass Nansha area, Qianhai-Shekou area and Hengqin area.
It will welcome overseas investors and entrepreneurs, especially those from Hong Kong.
The pilot free-trade zone has “great advantage of location”, given its geographical proximity to Hong Kong, Guangdong’s governor Zhu Xiaodan was quoted as saying in a speech at the launch ceremony.
“We sincerely welcome overseas investors and entrepreneurs, especially from Hong Kong and Macau, to seize chances to construct the FTZ together,” he said.
According to a plan approved by the State Council, Guangdong FTZ will be a pilot area for next round of economic reforms nationwide, a key hub for the 21st Century Maritime Silk Road initiative and a demonstration area for deeper collaboration between Guangdong, Hong Kong and Macau.
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