China unveils more innovations from pilot FTZs

This aerial panorama photo taken on Sept. 6, 2023 shows a view of the Lingang new area of the China (Shanghai) Pilot Free Trade Zone in east China's Shanghai. (Xinhua/Fang Zhe)

BEIJING, Jan. 18 (Xinhua) -- China's Ministry of Commerce (MOC) has unveiled 47 new institutional innovations from the nation's pilot free trade zones (FTZs).

The institutional innovations, comprising 23 best practice cases and 24 items of pilot reform experience, will serve as a reference across the country to deepen reform and expand opening up in relevant fields, according to the MOC.

The best practice cases mainly cover the fields of trade facilitation, transformation of government functions, factor resource security and high-quality industrial development, it said.

The pilot reform experience mainly focuses on areas including foreign investment access, scientific and technological innovation, environmental protection, transportation and finance, according to the ministry.

So far, China's pilot FTZs have seen the successful practice in 349 cases of innovation in institutional reform promoted at the national level, according to the MOC.