Beijing is more than doubling the number of free-trade zones around the country, giving seven more provincial-level areas the green light to set up their own free marketplaces to boost trade and cross-border investment. Chongqing, Zhejiang, Hubei, Henan, Sichuan, Shaanxi and Liaoning were given approval to develop the zones, taking the national total to 11, the South China Morning Post reports. The decision, which comes ahead of the Group of 20 summit in Hangzhou this weekend, reflects the leadership’s desire to counter slowing growth as it pushes on with efforts to integrate the country into the global economy. It is also the first time the zones have been endorsed for inland areas.
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