China issues measures to support Hubei free-trade zone

Updated: Jun 5, 2020 Xinhua Print
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China on June 4 published measures to boost development of the pilot free-trade zone (FTZ) in Hubei province amid efforts to revive the coronavirus-hit economy and maintain regular epidemic containment policies.

The move is aimed at stimulating market vitality, fostering new growth momentum and helping businesses resume work in the region, according to a document released by the Ministry of Commerce.

The country will build national bases for foreign trade transformation and upgrade and will carry out pilot programs for retail imports of cross-border e-commerce in the FTZ, according to the document.

Efforts will be made to further facilitate foreign investment, help address challenges for foreign-funded enterprises in the FTZ and encourage multinationals to set up their global or regional headquarters in Hubei.

The country also vowed to support relevant areas in the FTZ to improve supply chain systems for strategic emerging industries such as next-generation information technologies, high-end equipment manufacturing and new-energy vehicles.

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