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FTZ to widen services to foreign capital
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THE Shanghai free trade zone will open the service sector wider to foreign investors by launching reforms catered to the needs of enterprises, and also make policies more transparent, said Jian Danian, deputy director of the zone’s administration.
“The opening of the service sector is one of the zone’s reform priorities as new businesses have sprung up in various areas encouraged by freer policies,” Jian said yesterday at a service industry promotion conference.
Since it was set up in 2013, the Shanghai FTZ has unveiled 37 measures to widen access for foreign investment in services such as finance, shipping, commerce and culture.
So far 1,037 service enterprises have opened in the zone, official data showed, including China’s first reinsurance brokerage, first food safety certification company and first wholly foreign-owned yacht design company.
Yesterday, 16 companies, including those involved in cross-border e-commerce, human resources, education and training fields, signed agreements to set up operations in the FTZ.
But confusion still surfaces about what can be done in the zone and complaints of opaque policies are a problem for regulators.
“Further effort will be made to enhance communication with foreign investors and solicit opinions in order to set out targeted policies catering to enterprises’ needs,” Jian said.
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