A truck driver walks in the Yangshan Deep Water Port, part of the China (Shanghai) Pilot Free Trade Zone. [Photo/Agencies]

The Ministry of Commerce announced the major work for 2018 which included promoting the construction of free trade zones (ports), expanding the level of all-round opening up, and making opening-up policies, according to Vice-minister Qian Keming said on a news conference held on Feb 12.

Ren Hongbin, the assistant minister of commerce, said at a previous conference that the construction of free trade zones was a ground-breaking event in the process of reform and opening up. The ministry would make in-depth studies on the spirit of the Central Economic Working Conference and place more importance on the construction of free trade zones and ports in accordance with the decisions of the CPC central committee and the state council.

Ren said that the ministry would conduct work from five aspects – exploring the construction of free trade ports with Chinese characteristics, promoting the work on setting scope and making plans for China (Shanghai) Free Trade Zone new area, cutting down special measures on foreign investment access, releasing policies and measures to promote the opening-up level and innovative development of free trade zones, and gathering high quality experiences, aiming to form a new open economic patter of higher level.

Tang Wenhong, director-general of the ministry's department of foreign investment administration, explained that the ministry had made a catalog for foreign-funded industry guidance which would encourage foreign capital to invest in the fields of modern agriculture, advanced manufacture, high technologies, and modern service. Work would also be carried out to promote services system and to encourage local governments to arrange more professional and efficient activities to promote investment based on regional development characteristics.

Tang also said that the ministry would continue to relax control over market access, in a further step to implement the management measures of pre-establishment national treatment (PENT) with a negative list, strengthen the protection for foreign investors, and create world-class foreign investment environment.