The members of the China State Council have ratified a project to build, in the Heilongjiang province, a Free Trade Zone focused on the Russian market.
This is what the Chinese information agency, China News Service, reported today, citing a message from the Department of Commerce of the city of Harbin.
As the document states, the Free Trade Zone will be located in the Xiangfang district over an area more than 3 km2 and its construction is scheduled to be completed as early as 2016. Right after that, the Free Trade Zone will start functioning.
By design, it will become the main hub in this region of the supply of products to and from Russia. For that purpose, a powerful industrial cluster will be built there. To remind you, over 100 free trade zone operate in China today.