The State Council has announced the plan for seven new free trade zones that will be opened in Liaoning, Zhejiang, Henan, Hubei, Sichuan, Shaanxi and Chongqing Municipality. These FTZs will each serve specialized functions meant for the region they are in. For example, the new Hubei FTZ which will be used to develop the Yangtze River Economic Belt through high-tech bases, while the Henan FTZ will be used for transportation and logistics optimization.
