Chongqing hopes to set up free trade zone

In order to become a more open city, Chongqing is seeking to transform its Liangjiang New Area into a free trade zone, said a director of Chongqing Bonded Port Development Co Ltd at a recent meeting, the 21st Century Business Herald reported. Once established, it will be the first free trade zone in China's inland areas.

Taken as a strong boost to deeper economic reforms, the free trade zone was put high on the agenda of the Chongqing Municipality at the start of 2012.

The future free trade zone will highlight railway's role in transportation and logistics as Liangjiang is on its way to become a regional railway hub.

"Although fully-fledged railway systems are great attraction for Asian and European countries to invest in Chongqing, doing business will be difficult for investors without setting up a free trade zone," said Professor Pu Yongjian of Chongqing University.