China will likely set up more free trade zones next year after the first FTZ was set up in Shanghai in 2013. The Commerce Ministry also says it would encourage foreign investment in less developed regions.

"Investors have been able to feel drastic changes in the business environment in the free trade zones. And we would like to apply the experience from the free trade zones nationwide in 2017," said Tang Wenhong, director, Dept. of Foreign Inv't Admin., Ministry of Commerce.

"Meanwhile, we look forward to fast implementation of, and the good results from the third batch of free trade zones, so that foreign investors could develop in the mid and west of China, and to the northeast regions."