The State Council had been approved the Henan Pilot Free Trade Zone on August 31, 2016.
Henan Pilot Free Trade Zone covers an area of 119.77 square kilometers, including 73.17 square kilometers in Zhengzhou, 19.94 square kilometers in Kaifeng and 26.66 square kilometers in Luoyang, in Henan province.
The Zhengzhou Area focuses on the development of modern manufacturing, such as intelligent terminal, advanced equipment, automobile making and bio-pharmaceuticals, and modern services, such as modern logistics, international business, cross-border e-commerce, modern finance, service outsourcing, creative design, commerce exhibition and cartoon & game.
The Kaifeng Area gives priority to the development of service outsourcing, medical tourism, creative design, cultural media, cultural finance, artwork trading and modern logistics.
The Luoyang Area concentrates on the development of advanced manufacturing, such as equipment manufacturing, robots and new materials, and modern services, such as R&D and design, e-commerce, service outsourcing, international cultural tourism, cultural creativity, cultural trade and cultural presentation.
Henan FTZ has four main advantages.
First, it enjoys an advantageous location with a convenient transport network, railways, highways and airlines, forming a three-dimensional transport system.
Second, Henan FTZ has a considerable large marketing potential, as Henan is the most populous province, with the fifth largest economy in the country which has enormous consumption capacity.
Third, Henan FTZ has adopted more effective administration policies, which reduce use of application materials by 80 percent and approval time by 90 percent.
The last advantage of Henan FTZ is its cultural antecedents. As the birthplace of Chinese civilization, Henan had enormous scenic spots which attract thousands of visitors every year.