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Over 2,000 firms set up in FTZ
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More than 2,000 companies have set up in Shanghai’s pilot free trade zone to tap the liberal policies there, its administrative committee said.
As of last Friday, 2,084 enterprises have registered in the zone since it opened on September 29, the committee said yesterday.
There are 87 foreign-funded companies with a registered capital of US$620 million, and 1,997 domestic firms with an aggregated registered capital of 44.1 billion yuan (US$7.2 billion).
Six domestic companies based in the zone will invest US$310 million in overseas markets using a registration system that facilitates outbound investments by cutting the process to five working days.
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