First of six new FTZs opens in Shandong
China DailyLiu Jiayi, Party chief of Shandong, and Gong Zheng, governor of Shandong, unveiled the Shandong FTZ on Friday. Shandong Pilot Free Trade Zone was officially unveiled on Friday, following China's announcement on Monday to establish six new FTZs. With three to five years' reform trials, the Shandong FTZ is set to develop into a high-level and high-quality zone with features including convenient access to trade and investment, sound financial services and driving development in surrounding areas, Ren Airong, vice-governor of Shandong, said at a press conference held in Jinan on Friday. As a coastal city, Qingdao will look to advance manufacturing to transform into an international shipping hub in northeast Asia, an important innovation center in the eastern coastal areas and act as a demonstration zone for the development of the marine economy, said Meng Fanli, mayor of Qingdao. A provincial-level working office for the Shandong FTZ, as well as the three parts in Jinan, Qingdao and Yantai were unveiled officially on Friday.