FTZ reforms to stimulate trade flows

China (Liaoning) Pilot Free Trade Zone will undertake more market-oriented reforms to reinvigorate the old industrial heartland in the country's northeast region and deepen trade ties with economies in Northeast Asia and Europe, said officials.

As the core function of the FTZ is to stimulate domestic and foreign trade, as well as attract foreign direct investment, the government will come up with more flexible policies to not only benefit State-owned enterprises and giant foreign companies, but also ensure small and medium-sized companies from all countries can profit from this platform, said Zhang Hongguang, deputy director of Dalian area of the Liaoning FTZ.

Thanks to the FTZ's policies, the government found that technology companies notablely contributed to Liaoning's growth, with more than 1,000 new high-tech companies established last year, including Huawei's artificial intelligence industry base and JD's digital economy industrial park.