Beijing, July 11, 2023: China’s State Council has issued a circular to promote the replication of the latest reform experience tested in its pilot Free Trade Zones (FTZs) across the country.
According to the circular, a total of 22 reform measures will be adopted nationwide, covering investment and trade facilitation, governance innovation, financial opening-up innovation, high-quality development of industries and intellectual property protection.
The state council also ordered two practices to be replicated in particular areas, which included the promotion of intellectual property liability insurance for overseas infringement for pilot FTZs.
The circular said the FTZs were launched to explore new ways and accumulate experience for comprehensively deepening reform and expanding opening-up.
Also, the promotion of the reform measures would help improve the business environment nationwide, stimulate market vitality and build a higher-level open economy.
