Shanghai should turn free-trade zone into global channel, Xi Jinping says
The market experiment in Pudong district must become an example for other zones in the nation, president says
Chinese President Xi Jinping on Sunday urged Shanghai to turn its free-trade zone (FTZ) into a bridgehead for the “One Belt, One Road” initiative and help domestic companies channel investment overseas.
Speaking at the Shanghai delegation meeting on the sidelines of the National People’s Congress in Beijing, Xi said the city should turn the area in Pudong into a “comprehensive reform experiment zone” that integrates opening up and innovation, Xinhua reported.
“Shanghai must take the advantage of an early start and be the first one to set up a system that is in line with international investment and trade rules,” Xi said.
Under its belt plan, Beijing hopes to create a new trade network stretching from Southeast Asia to Europe, through funding infrastructure projects and investment.
