Further opening to take place in Shanghai FTZ
Print Edition
SHANGHAI’S pilot free trade zone will liberalize more services as well as ease a threshold for foreign capital in emerging sectors this year as it continues with an economic upgrading, a senior official of the FTZ said yesterday.
“Further liberalization of service sectors, including old-age caring, architectural design, accounting and auditing, e-commerce and film publishing, is among the reform priorities in the pilot zone this year,” said Jian Danian, deputy director of the China (Shanghai) Pilot Free Trade Zone Administration.
The administration also plans to lower the threshold for foreign investment in emerging industries such as marine engineering equipment, aerospace manufacturing and new energy, Jian told an annual meeting on reform planning in the Pudong New Area.
Last year, the central government drafted 23 policies to liberalize financial services, shipping management, value-added telecommunication services, cultural industry and legal services.
So far 22 of the measures have been implemented while work on restricted-license banks is still in progress, Jian said.
Meanwhile, 17 enterprises in the zone have completed their procedures for outbound investments involving an aggregated value of US$460 million.
An international board for gold trading will soon be launched in Yangshan Free Trade Port Area, Jian said.
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