Easier rules in 3 new FTZs

Easier rules in 3 new FTZs
The Chinese government has been authorized to ease investment rules in three new free trade zones.
 
The new zones will be located in Guangdong and Fujian provinces, and Tianjin. The resolution on temporary adjustment of regulations for administrative approvals in the new FTZs was passed through a vote at the bi-monthly session of the National People's Congress Standing Committee. According to the resolution, foreign companies will not need government approval to set up ventures in these FTZs, shut down and merge ventures or change their business purpose. Instead, they will only need to report business plans to the authorities.

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