Pilot FTZ to benefit from financial innovation

Innovation in the financial sector is expected to play a bigger role in Tianjin's pilot free trade zone and drive the growth of the Beijing-Tianjin-Hebei Free Trade Port.

Yang Maorong, director of the Binhai New Area and executive vice-director of the administration committee of Tianjin Pilot Free Trade Zone, said: "In the near future, the three-year-old zone will launch a cross-border finance platform, support lease companies to issue bonds and asset backed securitization, and boost the region's leasing and factoring sectors' growth."

Government bonds targeting the development of the region among Beijing, Tianjin and Hebei will be issued.