New FTZs stress test for reform

THE PARTY LEADERSHIP officially approved a plan for pilot free trade zones in Guangdong and Fujian provinces and Tianjin municipality at a meeting on Tuesday. A plan to further reform and open up the China (Shanghai) Pilot Free Trade Zone was also proposed during the meeting. Comments:

China's four FTZs - the Shanghai FTZ and the three newly approved ones - are an important indicator of the country's promotion of mature economic and financial institutions. Of course, the latest move is just the beginning as many more coastal and inland provinces are also applying to have pilot free trade zones. It is becoming increasingly clear that the central leadership has made comprehensively deepening reform one of its top priorities.

The Global Times, March 25