Guangdong Free Trade Zone covers Hengqin

A part of Hengqin Island, around 28 square kilometers, will be included in the Guangdong Free Trade Zone. It was revealed in a Zhuhai government meeting last week that the Free Trade Zone in Hengqin will feature trade ties with Portuguese speaking countries with the aim of creating free trade platforms with Angola, Brazil and Portugal.
It will develop a Chinese and Portuguese product exhibition and trade centre, as well as a cross border e-commerce platform. These will create a free trade corridor leading to Latin America through Brazil that specializes in agricultural products, and another two free trade corridors to Europe and Africa through Portugal and Angola respectively.
The Guangdong Free Trade Zone, formally known as the Guangdong Free Trade Testing Zone, was announced in December last year alongside two Free Trade Testing Zones in Fujian province and Tianjin city. The zone has customs areas where goods stored are exempt from tariffs and value-added taxes.