Source:
https://scmp.com/business/banking-finance/article/1303462/shanghai-free-trade-zone-may-be-extended-cover-pudong
Business/ Banking & Finance

Shanghai free-trade zone may be extended to cover Pudong

Central government plans to first focus on specific areas for the scheme amid concern about financial industry risks and hot money inflows

The Pudong financial district, as seen from Shanghai Tower, is set to be transformed by plans for the city's free-trade zone. Photo: Reuters

The central government may eventually expand its proposed Hong Kong-like free-trade zone in Shanghai to cover the entire Pudong district, government sources say.

Late last month, Beijing approved the mainland's first such zone, which will span 28.78 square kilometres in the Pudong New Area, including the Waigaoqiao duty-free zone and Yangshan port.