Xi Jinping urges expansion of Shanghai FTZ across mainland

President Xi Jinping has urged policymakers to expand the Shanghai free-trade zone pilot scheme to other parts of the country, calling the zone the "seeds" of mainland economic reform.

Addressing the Communist Party's leading group for overall reform, Xi said lessons learned after more than a year of operating the FTZ in Shanghai could be applied to other areas, Xinhua reported.

"We should plant these seeds in more land so that flowers will blossom and fruits will be harvested as quickly as possible," he said, adding that the zones should eventually be expanded across the mainland.

The president's remarks followed media reports over the weekend that a plan to set up an FTZ in Tianjin had been endorsed by ministry-level regulators and was awaiting the State Council's go-ahead.

The mainland's first FTZ was launched in Shanghai in September last year as an experimental ground for more drastic economic reforms amid ambitions to develop the 29 sq km zone into a mini-Hong Kong.

At the time, Beijing said the zone would be copied elsewhere if it turned out to be a success.

But the much-hyped Shanghai zone has been losing its lustre as it lacks substantial financial liberalisations and strong incentives to boost business activities.