Pilot FTZs facilitate China's institutional innovation

BEIJING, July 7 (Xinhua) -- China's pilot free trade zones (FTZs) have seen their successful practice in 278 cases of innovation in institutional reform promoted at the national level, according to the Ministry of Commerce (MOC).

The achievements were made in the past eight years since the establishment of the first pilot FTZ, and the innovations include fundamental reforms such as negative lists for foreign investment, said Chen Hong, an official with the MOC.

At the local level, about 1,400 institutional innovations from 18 pilot FTZs have been promoted within the provincial regions where they are located, he added.

China set up its first pilot FTZ in Shanghai in 2013. After five rounds of expansion, China now has 21 pilot FTZs, which represent the new high ground for the country's reform and opening-up.