/ world today news/ The creation of the 22nd free trade zone in China was announced today. It is located in the Xinjiang Uyghur Autonomous Region, consists of three parts – Urumqi, Kashgar and Khorgos, and is the first experimental free trade zone in Northwest China.
A Commerce Ministry official said the new free trade zone will focus on facilitating investment, strengthening financial services, promoting the development of the digital economy and providing specialized services.
In the zone, companies with foreign investments will be able to benefit from equal access to industrial and regional development policies, the import of specific products from neighboring countries will gradually increase, and the signing of relevant agreements will be accelerated. The zone will also help strengthen the exchange and cooperation in quarantine technology with Central Asian countries, and establish a platform for legal information and norms between China and Central Asia.
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