China's FTZs see robust growth in January-March

Aerial photo taken on June 21, 2022 shows the China (Shanghai) Pilot Free Trade Zone (FTZ) in east China's Shanghai. (Xinhua/Fang Zhe)

BEIJING, May 11 (Xinhua) -- China's free trade zones (FTZs) recorded rapid foreign trade and investment growth in the first three months of this year, said the Ministry of Commerce Thursday.

The total foreign trade of the country's 21 FTZs amounted to 1.8 trillion yuan (about 260.5 billion U.S. dollars) during the period, up 6.6 percent year on year, said spokesperson Shu Jueting at a press conference.

Shu said this growth rate was 1.8 percentage points higher than the national level.

Foreign direct investment in these FTZs in actual use increased 22.1 percent from a year earlier to 71.9 billion yuan, the spokesperson said.

FTZs nationwide have made multi-pronged efforts to boost foreign trade and investment, including encouraging institutional innovation, increasing support for dominant industries, improving services, and unclogging logistics, Shu said.

Shu added that the ministry would organize various activities to help businesses at home and abroad learn more about China's FTZ policies and share opportunities for future development.

China set up its first FTZ in Shanghai in 2013.