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China unveils plans to build free trade pilot zones in Beijing, Hunan and Anhuei

On Monday, China unveiled plans to build free trade pilot zones in Beijing and the provinces of Hunan and Anhuei, Radio China reported.
In the Chinese capital, the free trade pilot area will be 119.68 sq km and will consist of three parts — for innovation in science and technology, international business services and high-tech industries.

Under the plan, Beijing will also open centres for trading intellectual property sites and encourage multinational companies to set up research centres. The procedure for work permits and the residence of foreigners in China will be optimised.

Beijing also has plans to build a pilot zone for digital trade and big data sharing to boost technological innovation and the opening up of the services sector and the digital economy.

The free trade pilot zones in Hunan and Anhuei will be 119.76 sq km and 119.86 sq km respectively.

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