
TIANJIN, July 25 -- A pilot economic zone in the northern coastal city of Tianjin could expand to include another industrial zone in neighboring Hebei Province, part of a wider program to drive economic integration around the capital Beijing.
The China (Tianjin) Pilot Free Trade Zone was established in 2015 along with two others in the eastern province of Fujian and southern province of Guangdong to test measures including speedier custom clearance, less control on cross-border capital flow and broadened access for foreign investment in China's service sector.
Currently, three areas in Tianjin make up the Tianjin zone, but as authorities aim to drive administrative and economic integration among Tianjin, Hebei and Beijing, the governments in Tianjin and Hebei are applying to include Caofeidian District, Hebei, into the pilot zone.
Adding a new area outside of Tianjin would enable measures to benefit more places surrounding Beijing. The inclusion plan is pending approval from the State Council.
Eased rules on custom's clearance at Tianjin zone have already reduced logistic costs for goods being moved around the region by nearly 30 percent, said Jiang Guangjian, an official with Tianjin zone administrative committee.
Tianjin zone is also a major hub for financial leasing services. Airplane and ship leasing accounts for 90 and 80 percent of the country's total, respectively.
Who Will Fit The Chinese Roles In Game Of Thrones?
China's Hubei Shennongjia added to World Heritage List
"Straddling bus" starts production in east China
Girl goes viral for finger-long toes
Five made-in-China hi-tech breakthroughs
HK-Zhuhai-Macao Bridge to open to traffic
China opens its first combined transport service to Nepal
Students take stylish bikini graduations photos
Charming dancing students pose for graduation photos
Top 10 livable Chinese cities
Top 20 hottest women in the world in 2014
Top 10 hardest languages to learn
China’s Top 10 Unique Bridges, Highways and Roads
Signs of the times
The start-up party comes to an end
Revolutionary new mobile game gives fans in China extra difficulties
‘Kaili Blues’ reveals a new approach for art films Day|Week