Opinion: Shanghai chooses free trade
September 10, 2013 | BY
clpstaff &clp articlesThe details of the Shanghai Free Trade Test Zone reveal that approvals and monetary flows will ease. Market participants are still waiting for clarification, but it looks like the Zone will be what the market wants and China needs
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On July 3 2013, the State Council formally approved the establishment of the China (Shanghai) Free Trade Test Zone (SFTZ). An area of 28.78km2 consisting of four existing free trade areas (FTAs): Waigaoqiao Free Trade Area ,established in 1990, Waigaoqiao Free Trade Logistics Park, established in 2004, Yangshan Free Trade Port, established in 2005 and Pudong Airport Comprehensive Free Trade Area, established in 2010.
Pursuant to the SFTZ related laws and policies published recently and those still in the legislation process at the central and local Shanghai levels, there are many benefits for foreign investors in the SFTZ.