Three new FTZs get nod

Three new free trade zones will be established in China from March 1 next year, according to an announcement released on Friday during a regular meeting of the National People's Congress.

Based on the successful model used at the country's flagship China (Shanghai) Pilot Free Trade Zone over the past 15 months, new zones will now open in South China's Guangdong province, East China's Fujian province and North China's Tianjin Municipality, officials said.

The three will be roughly the same size, at around 116-119 square kilometers.