Wuhan East Lake Free Trade Zone: A world-class free trade area in central China. [Photo provided to China Daily] 

 Wuhan East Lake Free Trade Zone: A world-class free trade area in central China. [Photo provided to China Daily] 

The Wuhan East Lake Free Trade Zone is the first comprehensive free trade area in Hubei province. Located in the core area of the China (Hubei) Pilot Free Trade Zone Wuhan Area, it has a planned area of 5.41 square kilometers. The first phase of the free trade zone — covering about 1.82 square kilometers — is already operating.

The free trade zone integrates such functions as bonded processing, bonded logistics, port logistics and bonded services. It focuses on nine industries and services, including research and development, processing, manufacturing, inspection and testing, maintenance and repair, trade and logistics, along with clearing and settlement. It is an important window showcasing the opening-up and development strategy of Hubei province and the city of Wuhan.