Shanghai goes all out to build FTZ

By Vera Ye | September 24, 2015, Thursday |

Online Edition

SHANGHAI will go all out to build the city’s pilot free trade zone into an area with the greatest openness and convenience, Shanghai Party Secretary Han Zheng said.

“While keeping pushing forward reforms, we will stick to institutional innovation to further improve all kinds of fundamental systems and core system,” Han told a meeting of the city’s reform steering group yesterday.

Han said reforms in the future will be problem-oriented in order to directly address existing issues and make breakthroughs. Government role transformation will run through the construction of the zone in an effort to improve administrative philosophy and method, he said.

Launched in 2013 as a test field for groundbreaking reforms and an open economy, the zone has made effort to streamline customs procedures, deregulate foreign investment, liberalize control on financial flows and cut government red tapes.

Han said evaluation of the zone’s reform results should take into consideration market players’ satisfaction and the city will actively invite third-party institutions to assess the zone’s reform progress.

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Shanghai goes all out to build FTZ

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