Free trade ports will help to push the envelope of reforms

IN THE REPORT he delivered at the 19th National Congress of the Communist Party of China in Beijing on Oct 18, General Secretary of the CPC Central Committee Xi Jinping pointed out that the government should give pilot free trade zones more autonomy to carry out reforms and the country should explore the possibility of establishing free trade ports. Beijing News comments:

It can now be expected that a number of free trade ports are on the horizon. Shanghai, Zhejiang and Guangdong, all pilot FTZs, are reportedly actively researching the feasibility of establishing free trade ports.

A free trade port refers to an entire port area in a country's territory that is considered to be outside the country's customs boundaries. Enterprises thus enjoy the freedom to store, exhibit, dissemble, refit and process their goods in these areas.