CHINA is to quicken the pace of its free trade zone strategy and turn institutional innovation into a strong impetus for the country’s development, President Xi Jinping said yesterday.

Speeding up the implementation of free trade zones is an important part of a new round of reform and opening-up, he said. China should aim for high-standard trade and investment rules and strengthen its capability for allocating financial resources around the world and better serving the country’s economic development, he added.

Xi made the remarks during a meeting with lawmakers from Shanghai in a panel discussion of Premier Li Keqiang’s government work report.