The local authorities of the Yantian District of Shenzhen studied the feasibility of establishing a free trade zone as early as 2008. Li Xiuzhong, a member of Shenzhen People’s Political Consultative Conference, wrote a proposal in 2010, calling for faster progress in establishing a free trade zone in Yantian. Li wrote in the proposal that Yantian had met all the requirements to build up a zone by 2007. The container throughput of Yantian exceeded 10 million TEUs in 2007. By that time, Yantian had been the top among the 10 largest Chinese ports for more than four years. Qu Jian, deputy director of a Shenzhen-based think tank, the China Development Institute, said that the city has been working very hard to get central government approval for a free trade zone. Even though the FTZ in Shanghai has become the first of its kind in China, one more free trade zone in Shenzhen does not mean duplication. “For a large economy like China, it is of course better to have more free trade zones,” he said. “The area that a free trade zone covers is quite small, usually covering no more than 30 square kilometers. It is better to have one free trade zone in every economic region, such as the Yangtze River Delta region and the Pearl River Delta region, so that a complete network of free trade zones can be built up. Economic restructuring will be made possible under such a system,” he said. IBU thinks free trade zone will boost foreign trade business strongly and logistics service will improve accordingly.
Posted on: Tue, 16 Jul 2013 09:32:40 +0000
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