In the News: 6 New FTZs; Fintech Development Plan; Corporate Social Credit; and Shenzhen's Relaxed Forex Rules

September 02, 2019 | BY

Vincent Chow

China announces six new FTZs targeting poorer regions and Belt and Road cooperation; central bank unveils three-year fintech development plan to accelerate innovation while curbing risks; new report warns foreign companies about corporate social credit's potential impact; and SAFE relaxes foreign currency conversion requirements across Shenzhen

IMF renminbi yuan currency

China to launch six new FTZs targeting poorer border regions

China will launch six new pilot free-trade zones (FTZs) in the provinces of Shandong, Jiangsu, Guangxi, Hebei, Yunnan and Heilongjiang, the State Council announced. This marks the first time FTZs will be set up in China's border areas to facilitate partnerships with neighbouring countries, Vice-Minister of Commerce Wang Shouwen said.

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