Guangdong to apply for FTZ following Shanghai

South China's Guangdong province has accelerated preparations for its own free trade zone (FTZ) and will apply for approval by the central government as soon as possible, governor Zhu Xiaodan said here Friday.

Speaking ahead of an international conference on Guangdong's economic development, Zhu said field surveys and feasibility studies for the proposed Guangdong-Hong Kong-Macao FTZ have been going on for more than half a year.

While consulting central authorities, Guangdong has also exchanged opinions with the governments of Hong Kong and Macao, Zhu said.

Shanghai opened China's first FTZ in late September. Many Chinese provinces now want their own FTZs.

The Guangdong-Hong Kong-Macao FTZ will help Guangdong remold the functions of its government and build a business environment that is based on the rule of law and confirms to international practices, Zhu said.

The proposed FTZ will also help expand cooperation between Guangdong, Hong Kong and Macao and further open up the Guangdong economy, he said.

The governor said Guangdong has a very high expectation of the FTZ as FTZ is a national strategy approved by the just-ended Third Plenary Session of the 18th Communist Party of China Central Committee.

The CPC meeting approved a roadmap for a comprehensive reform, and it particularly mentioned that cooperation with Hong Kong, Macao and Taiwan must be further enhanced, Zhu noted.