Guangzhou municipal government recently released a tender announcement for the extension project of Nansha Free Trade Zone (FTZ).
The FTZ was established in April 2015. The 60 square kilometer area has made remarkable achievements over the past four years.
Its reform and innovation have produced 457 results; 90 are leading in the country, and 40 are popularized nationwide. The number of local enterprises soared from 8,400 to 119,499 - nearly 14 times the original number.
China has recently set up a group of FTZs in various places like provinces of Shandong, Jiangsu, Hebei, Yunnan and Heilongjiang and Guangxi Zhuang autonomous region since 2019. The Shanghai FTZ also set up a new sub-area.
The construction layout of the national FTZ has formed a pattern of reform, opening up and innovation covering the whole country - east, west, south and north.
Guangzhou’s Nansha district is a portal hub serving as a state-level new zone, a FTZ and the demonstration zone for comprehensive cooperation between Guangdong, Hong Kong and Macao.
This plan aims to benchmark Shanghai and Shenzhen and foster a more competitive and influential economic function district in the global markets, according to the document.
The announcement asks to explore seven major problems, including promotion of function within the existing range, and further deepening reform and opening-up in the next.
In addition, the bid winner is required to state their principle, direction and ideal region for the extension plan.
Preliminary results will be completed by Feb 10. On this basis, the winner is expected to put forward a general draft and report it to the state.