Dalian free-trade area launches
29 June 2007
China inaugurated a harbor area with preferential tax rates on Thursday in the northeastern city of Dalian, a major step towards forming a free trade zone between China, Japan and South Korea, Xinhua reported (in Chinese). The Dayaowan Bonded Harbor Area, located on the Dagushan Peninsula in the northeastern part of Dalian, enjoys preferential taxation and foreign exchange policies. "We expect to develop the area of about 50 square kilometers surrounding the Dagushan Peninsula into a free-trade zone on the basis of the Dayaowan Bonded Harbor Area," said Xia Deren, mayor of Dalian. "But, of course, it has to depend on the country's overall economic layout," he added.