Model becomes engine of economic growth

China currently operates four free trade zones, all along its coastline. It established its first pilot FTZ in Shanghai in August 2013, and a second batch in Tianjin, Fujian and Guangdong in 2014.

Vice-Minister of Commerce Wang Shouwen, said China has introduced 19 practical measures tested to be effective in four FTZs, in terms of administrative reforms, investment and policies, to assist innovation and economic growth throughout the country.

"The FTZ model certainly has become a new driving power in the slowing economy. With the addition of the third batch, China is targeting wider reforms to push these regions to explore their industrial and geographical limits," Wang said.