Shanghai lifts dozens of restrictions on foreign investment in FTZ

By Ye Zhen | July 1, 2014, Tuesday |

Online Edition

Shanghai opened up the city’s pilot free trade zone to more investment from overseas after it released a revised list of restrictions on foreign direct investment.

The 2014 version of the list cut the number of restrictions on foreign investment in the China (Shanghai) Pilot Free Trade Zone from 190 to 139.

In the financial sector, foreign investors are no longer barred from finance and trust companies or currency brokers.

The updated list also offers more freedom for foreign participation in the real-estate sector by allowing them to invest in the construction and operation of large-scale wholesale markets for agriculture products.

Wholly foreign-funded projects are allowed in land development, which was previously only open to joint ventures. Foreign investment in real-estate agencies was also removed from the off-limits category as well.

In the entertainment industry, the new list scraps the restriction on foreign investment in lotteries and gambling. Foreign investors are now also allowed to invest in Internet cafes.

First introduced last year after the official launch of the FTZ, the list specifies all business areas in which restrictions will remain for foreign enterprises in the zone.

As part of China’s opening up strategy, overseas participants are allowed to invest as freely as their domestic peers in fields not on the list.

Finance

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Shanghai lifts dozens of restrictions on foreign investment in FTZ

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