China approves pilot economic zone for overseas Chinese in Shantou

BEIJING - The Chinese Government has confirmed approval for a pilot zone for economic and cultural co-operation with overseas Chinese in Shantou in South China's Guangdong province. The pilot zone will utilise Chinese investors from overseas to build a stronger, freer economic zone. 

The Government says the new programme will create new measures for cross-border investment and trade-mechanisms which conform to international rules, creating a fair, unified and efficient business model.

The pilot zone will cover about 36 sq km, of which 20 sq km is reclaimed land, according to local news sources. Shantou, one of China’s five special economic zones, is home to more than 15 million people working and living outside the Chinese mainland, including Hong Kong billionaire Li Ka-shing. www.websershandwick.cn (ATI).