Tianjin, the municipality neighboring Beijing, may be the next free trade zone in China after Shanghai.

天津，靠近北京的直辖市，将可能成为上海之后中国的下一个自由贸易区。

Tianjin has reportedly submitted an application to the State Council, waiting for the last step of its approvals.

People within the city government of Tianjin reveal that the new free trade zone will have two tariff-free areas and one commercial area.

It is also revealed that the new FTZ will be twice as large as that in Shanghai.

Companies within the zone can enjoy preferential policies like tax exemption that are not applied in other parts of China.