* Plan will bring the number of free trade zones to 11
* Each new zone will have a different priority
(Adds details, quotes)
BEIJING, March 31 China's cabinet has approved
the establishment of seven new free trade zones to prepare for
further opening up its economy, the commerce ministry said on
The new free trade zones (FTZs) will be in Liaoning,
Zhejiang, Henan, Hubei, Chongqing, Sichuan and Shaanxi, a
document issued in Beijing showed.
"We are building free trade zones with the aim of creating
reform experiences that can be replicated throughout the country
and conducting risk testing for openness throughout the
country," vice commerce minister Wang Shouwen told a news
Chinese leaders have pledged to open the world's
second-largest economy wider to foreign investors.
The latest approvals brought the total number of Chinese
free trade zones to 11.
China set up its first FTZ in Shanghai in 2013, and opened
them in Guangdong, Fujian and Tianjin in 2014.
The new FTZs will learn from the reform experiences in
Shanghai and other existing zones but have different priorities,
Zhejiang's FTZ will focus on international maritime services
and international oil storage, while Liaoning will focus on
deepening state firm reform, he said.
He said Chongqing's FTZ will aim to promote the development
of China's "One Belt, One Road" initiative while Henan will
focus on international logistics and transportation, he said.
(Reporting by Beijing Monitoring Desk and Kevin Yao; Editing by