Three pilot trade zones proposed

New projects likely to be located in Guangdong, Tianjin and Fujian

China plans to launch three new pilot free trade zones to test greater opening-up and tap the economy's huge potential to hedge against mounting downward pressure next year.

The new zones will be set up at sites in Guangdong and Fujian provinces and in Tianjin, a State Council executive meeting decided on Friday, a year after the pioneering China (Shanghai) Pilot Free Trade Zone was set up.