Green light for free trade area trial

A new free trade area in the East Lake High-tech Zone is to undergo trials after getting the go ahead from the government of Wuhan in Hubei province.

The city will initiate 42 projects in the 518 square meter zone.The pilot operation, expected to last up to two years, will lay foundations for a China Innerland (Hubei Wuhan) Free Trade Zone.

Major projects will involve facilitating trade, liberalizing investment, innovation of administration systems, technological upgrading, financial system innovation, the opening-up of the service industry and improvement of the taxation system.