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Political Advisor Proposes Establishment of Bonded Zones
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China's three major development areas should be transformed into bonded zones to meet the new demands from the country's reform and opening up drive, said a political advisor in Beijing on Friday.

Considering the demand for promoting China's export and sharpening the country's competitive edge in international economic cooperation, it is very necessary to transform the three major development areas, namely Shanghai's Pudong New District, Tianjin's Binhai New Area and Shenzhen Special Economic Zone, into bonded zones at a proper time, said Li Youwei, a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC).

If transformed, the three areas located in the booming Yangtze River Delta, Bohai-rim region and Pearl River Delta will receive a major boost to continue leading the country in development as three economic engines, said Li when speaking at a plenary meeting of the CPPCC National Committee, China's top advisory body.

"The transformation will mark an important step to deepen the country's reform and opening-up drive," Li said.

China set up a batch of special economic zones since the 1980s,including Shenzhen, Zhuhai and Xiamen, which became the country's pioneers in the reform and opening-up drive and pilot fields for the market economy.

As the country is entering a new stage of economic development, Li said, it is necessary to set up bonded zones in the three areas.

The annual session of the CPPCC National Committee opened in Beijing on March 3 and is scheduled to end on March 15.

(Xinhua News Agency March 10, 2007)

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