BEIJING, March 5  -- China will quicken the pace of implementing the strategy of free trade zones (FTZs) and turn institutional innovation into a strong impetus for the country's development, President Xi Jinpingsaid Thursday.

To speed up the implementation of FTZ strategy is an important part of a new round of reform and opening-up. China should aim for high-standard trade and investment rules, and strengthen its capability for allocating financial resources around the world and better serving the country's economic development, Xi said.