Hunan delegation of the 12th National People's Congress (NPC) revealed on March 4 that Changsha, along with other three central cities of the Yangtze River like Wuhan of Hebei Province, Nanchang of Jiangxi Province, and Hefei of Anhui Province, is set to apply for the first cross regional free trade zone in the mainland.
According to the proposal, the establishment of such a zone for cities in the middle reaches of the Yangtze River is of great significance in facilitating the rise of central China and building an economic belt of the Yangtze River. Specifically, it will break through the limitation of current systems and mechanisms, administrative boundaries and market barriers, and promote free flow of investment and trade. Regional customs clearance cooperation will be enhanced. Features of all areas will be combined and unnecessary competence will be avoided so as to forge a new and open development land. The industrial cluster of cities in the middle reaches of the Yangtze River will also be accelerated to promote resources integration, build an international industry cluster, realize innovation-driven cities, and adapt to economic development of new normal.
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Translator: Zhu Mengxia
Chinese source: hn.chinanews.com