In the news: Companies pour into FTZ, NDRC in hiring spree and approvals ease

| BY

clpstaff &clp articles

In just two months 1,400 companies have registered in the Shanghai FTZ. China's top antitrust regulator is to hire 170 employees next year and the State Council has eased administrative approvals

Shanghai FTZ attracts 1400 companies

The FT reported that more than 1400 companies have registered in the China (Shanghai) Free Trade Zone in the two months since its launch. Ai Boajun, head of the FTZ's administrative committee, dismissed any comments of a disappointing start for the Zone. His remarks came despite only two foreign banks establishing branches in the Zone on its opening day. That number has since risen to 12. Ai added that a further 6,000 companies are in the process of applying. Reforms in the Zone mean foreign companies can obtain business licences in four days, as opposed to an average of 29 outside the Zone.

Source: FT

This premium content is reserved for
China Law & Practice Subscribers.

  • A database of over 3,000 essential documents including key PRC legislation translated into English
  • A choice of newsletters to alert you to changes affecting your business including sector specific updates
  • Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
For enterprise-wide or corporate enquiries, please contact our experienced Sales Professionals at +44 (0)203 868 7546 or [email protected]