China’s network of 22 free-trade zones (FTZs) is powering innovation and global integration, with new data showing an 11.7% year-on-year surge in foreign trade during early 2024. Coastal hubs like Shanghai and emerging inland zones are rewriting the rules of economic reform, blending local strengths with international standards.
Trade Hotspots Ignite
Guangdong, Jiangsu, Sichuan, and Hebei provinces saw FTZ trade rocket over 30% this year, while tropical Hainan—a rising star in service sector reforms—logged 20% growth. These zones now serve as testing grounds for policies that could shape China’s next phase of opening up.
Breaking Barriers with ‘Negative Lists’
March’s launch of national and pilot FTZ negative lists for cross-border services marks a milestone. The streamlined rules (71 items nationally, 68 in FTZs) target sectors like finance, culture, and professional certifications, aiming to align with global trade norms. By reducing restrictions, China signals its commitment to ‘institutional openness’—a playbook for attracting global talent and capital.
Coastal hubs like Shanghai and emerging inland zones are rewriting the rules of economic reform, blending local strengths with international standards.
These zones now serve as testing grounds for policies that could shape China’s next phase of opening up.
By reducing restrictions, China signals its commitment to ‘institutional openness’—a playbook for attracting global talent and capital.
