The State Council recently released new FTZ reforms intended to optimize trade conditions for goods and services, extend the residency period for business personnel and their family members, and improve market conditions.
While the reforms are welcome, many are incremental changes that appear aimed at bringing China closer to CPTPP standards.
Given that the reforms cover a limited number of FTZs and significant investment barriers remain, USCBC does not expect the reforms to significantly improve the business environment or make meaningful progress towards China’s CPTPP ambitions.