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China (Shanghai) Pilot Free Trade Zone - A new era of opening up and reform in China 

Nov 2013

On 29 September 2013, the Chinese government formally established the China (Shanghai) Pilot Free Trade Zone (“SH PFTZ”) in Shanghai, China. How the area will affect businesses in China and throughout Asia is top of mind as multinational corporations and local Chinese companies seek to benefit from more relaxed financial and investment controls. As of mid-October, 36 new companies had set up operations in the SH PFTZ in various sectors covering banking, leasing, logistics, e-commerce and trading.

The establishment of the SH PFTZ has been recognised as a crucial economic reform initiated by China’s new leadership. The ‘pilot experiment’ in Shanghai will include reforms focused on the following areas:
  • Financial reform
  • Upgrading of customs supervision framework
  • Simplification of administrative systems supporting the further opening up of the services sector, and
  • Creation of a competitive regulatory and tax environment for businesses.
Contacts
Mandy Kwok
Partner
Hong Kong
Tel: +[852] 2289 3900 Email
Edmund Yang
Partner
Beijing
Tel: +[86] (10) 6533 2812 Email
Jacky Chu
Partner
Shanghai
Tel: +[86] (21) 2323 5509 Email
Theresa Chan
Partner
Hong Kong
Tel: +[852] 2289 1887 Email