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June 18, 2021

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Witnesses to city’s rapid evolution

WOODPECKER and reformer

Zheng Haiao, deputy director of the China (Shanghai) Pilot Free Trade Zone Policy Research Institute, spoke about the development of the free trade zone in Shanghai.

“My job is like a woodpecker to find out regulations and rules that might restrict development of market players and then promote reforms and institutional innovations to make doing business in China more simple and efficient,” he said.

When China established its first pilot free trade zone in Shanghai in 2013, Zheng and his colleagues received their first task to do research on the negative list rule for the zone, which could enable foreign investors to enjoy the same treatment as domestic investors in areas not on the list.

“Over the past eight years, the Shanghai free trade zone has been easing market access to foreign investments,” he said. “The number of items on the negative list has been reduced from 190 to 30, and more than 12,000 foreign-invested enterprises have been set up in the region.”

Zheng said Shanghai welcomes not only foreign investments, but also foreign talent. With relaxed policies, now more and more overseas talent are making investments and starting up businesses in Shanghai.

“To help China open its door wider is the dream of all reformers like me,” he said.




 

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