China to set up 7 more free trade zones to spur growth

China has approved setting up seven more free trade zones (FTZ) taking the total to 11 in the country as part of its reforms to halt the slowdown of the world’s second largest economy. General plans for China’s third group of FTZs, announced in August, will be approved soon, the Shanghai Securities News reported, the latest step in the country’s expanding FTZ network. In August, China approved the establishment of seven new free trade zones.