Guangdong Free Trade Zone to launch March 18

The Guangdong Free Trade Zone will launch on March 18 after being postponed till the closing of China’s annual rubber-stamp legislative session this Sunday, South China Morning Post reported. The new FTZ’s main role is to enhance cooperation with Hong Kong and Macau by relaxing restrictions on investors and allowing greater recognition for professionals from those territories who work in the 116 square kilometer zone, which is actually a group of discrete areas in the cities of Guangzhou, Shenzhen and Zhuhai. Each of the new FTZ districts will be managed by its own administrative authority.