China’s free-trade zones still tasked with ‘leading goose’ role to drive economic development, boost foreign investor ties
- Premier Li Qiang concluded a two-day inspection of Shanghai’s free-trade zone on Thursday, saying the markets are ‘still tasked with important missions’
- Li said that foreign firms had ‘progressed themselves while contributing to China’s development’ during his first trip since being named premier in March
Premier Li Qiang has called on free-trade pilot zones to be the “leading goose” in driving China’s economic development and cementing relations with foreign investors and international markets at a time of increasing economic rivalry with the United States.
Li concluded a two-day inspection of Shanghai’s free-trade zone on Thursday, which was his first trip since being named premier in March.
It came as China’s slowing post-Covid recovery has fuelled market calls for immediate policy solutions, while in the US, economic growth beat expectations in the second quarter.
They are now still tasked with important missions
“The pilot free-trade zones have played a leading goose role in the past 10 years,” Li said during a symposium with leaders of eight provinces and the Ministry of Commerce in Shanghai on Thursday.
“They are now still tasked with important missions.”
Li spent around five years in Shanghai as the city’s Communist Party boss before being elevated to be the country’s second-highest position in charge of reviving China’s ailing economy.
He was widely viewed as being pro-business, with an emphasis on fostering a better environment to allure increased foreign investment and encourage the development and innovation of private entrepreneurs.
