As part of broader efforts to promote high-level openness and high-quality development, advancing China's role in global trade and innovation, a new guideline outlines a strategic plan to elevate pilot free trade zones (FTZs) over the next five years.

Issued by the Communist Party of China Central Committee and the State Council, the guideline focuses on improving institutional openness, the effectiveness of systematic reforms, and the quality of China's open economy.

The key areas for development include facilitating free flow of trade, investment, capital, transportation, personnel, and data, alongside ensuring data security and order.

The aim is to deepen the integration of technological and industrial innovation, foster the growth of modern industrial clusters, and accelerate the development of new quality productive forces.

The policy highlights the need to boost China's foreign trade competitiveness. Among the initiatives is the optimization of merchandise trade, the revitalization of service trade, and the promotion of digital trade innovation.

For instance, companies in the FTZs will be allowed to conduct mineral ore blending under different tax codes through bonded logistics. Additionally, the introduction of a "white list" for bio-pharmaceuticals will streamline import processes for research materials and a similar system will be explored for food and drug substances.

Moreover, the guideline is designed to promote investment liberalization and market openness, creating a first-class business environment. It aims to attract more foreign investment by allowing foreign enterprises to engage in movie post-production services within FTZs. It will also support the establishment of international arbitration institutions and business mediation organizations.

Another major focus is the creation of a high-level technological innovation ecosystem. The policy encourages the integration of innovation chains with industrial chains, with a strong emphasis on international collaboration in science and technology. The FTZs are to play a key role in advancing modern industrial systems and fostering advanced industrial clusters.

In line with this, the policy calls for the construction of open and efficient channels for data and goods. Key measures include enhancing the efficiency of cross-border data flow, improving shipping services, and expanding the financial sector's opening, such as the trial expansion of cross-border currency pools for multinational companies and the liberalization of certain futures markets.

The guideline also underscores the importance of talent innovation, aiming to create a more convenient environment for personnel exchanges, and to implement open and effective talent policies to boost innovation.