The Hangzhou area of China (Zhejiang) Pilot Free Trade Zone (FTZ), approved by the State Council as an expansion to the current FTZ in Zhoushan and its outlying islands, was unveiled on Sept 24.

The Hangzhou area is set to become a nationally-leading pilot development zone for new-generation artificial intelligence (AI) technologies, a national-level fin-tech innovative development pilot zone, and a world-class cross-border e-commerce demonstration center.

Covering a total of 37.51 square kilometers, the Hangzhou area will be divided into a 10.1-sq-km area in Qiantang district, a 16.09-sq-km area in Xiaoshan district, and an 11.32-sq-m area in Binjiang district.

The Qiantang sectionof the Hangzhou area of China (Zhejiang) Pilot Free Trade Zone. [Photo/zjol.com.cn]

The Qiantang section will focus on such industries as cross-border e-commerce, digital trade, bonded trade and services, life science, intelligent manufacturing, and research and testing.

The Xiaoshan section of the Hangzhou area of China (Zhejiang) Pilot Free Trade Zone. [Photo/zjol.com.cn]

The Xiaoshan section will emphasize the development of scientific innovation and finance, intelligent manufacturing, headquarters economy, airline logistics and services, life science, and cross-border e-commerce.

The Binjiang section of the Hangzhou area of China (Zhejiang) Pilot Free Trade Zone. [Photo/zjol.com.cn]

The Binjiang section will focus on fields such as internet of things, digital economy, financial technology, AI, and digital recognition technology for security and protection.