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China's free trade zones see robust growth in Q1 2023
16 May '23
1 min read
Pic: Shutterstock
Insights
- Rapid foreign trade and investment growth was seen in China's free trade zones (FTZs) in the first quarter this year, with the total foreign trade of its 21 FTZs amounting to $260.5 billion—up by 6.6 per cent year on year.
- Foreign direct investment in these FTZs in actual use rose by 22.1 per cent from a year earlier to 71.9 billion yuan.
Free trade zones (FTZs) in China witnessed rapid foreign trade and investment growth in the first quarter (Q1) this year, with the total foreign trade of its 21 FTZs amounting to 1.8 trillion yuan ($260.5 billion)—up by 6.6 per cent year on year, according to the ministry of commerce.
This growth rate was 1.8 percentage points higher than the national level, ministry spokesperson Shu Jueting told a press conference.
Foreign direct investment (FDI) in these FTZs in actual use rose by 22.1 per cent from a year earlier to 71.9 billion yuan, she said.
The ministry would organise various activities to help businesses at home and abroad learn more about China's FTZ policies and share opportunities for future development, she added.
China set up its first FTZ in Shanghai in 2013.
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