(Yicai Global) Nov. 3 -- China will steadily push the construction of free trade ports in line with central government plans, Gao Feng, spokesman for the country's Ministry of Commerce, said at a press briefing yesterday.

Free trade ports are the most open special economic zones in the world, Gao added. The free flow of goods, funds and personnel through the ports and the exemption of tariffs on most products are high up on China's agenda to become more open, he added.

The mainland's free port pilot program will mirror those in Hong Kong and Singapore, and will seek to make it easier to transport goods, set up foreign companies and allow capital flow. Some securities firms believe the free trade port will be a new driver behind the development of the regional economy, Securities Times reported.

Gao also discussed the Belt and Road Initiative's economic and trade performance, noting that trade between China and other Belt and Road countries totaled USD785.9 billion in the first three quarters, 15 percent more than last year. Chinese firms directly invested USD9.6 billion into Belt and Road countries, while nations along the route invested USD4.24 billion in China.

To date, 3,412 Chinese companies have participated in the creation of 75 economic and trade zones in 24 foreign countries, generating cumulative tax income of USD2.21 billion for local governments and creating 209,000 jobs.