Shanghai free-trade zone

Shanghai free-trade zone (FTZ) is the first Hong Kong-like free trade area in mainland China. The plan was first announced by the government in July and it was personally endorsed by Premier Li Keqiang who said he wanted to make the zone a snapshot of how China can upgrade its economic structure. Other mainland cities and provinces including Tianjin and Guangdong have also lobbied Beijing for such approvals. The Shanghai FTZ will first span 28.78 square kilometres in the city's Pudong New Area, including the Waigaoqiao duty-free zone and Yangshan port and it is believed it may eventually expand to cover the entire Pudong district which covers 1,210.4 sq km of land.

Chinese to invest abroad in free-trade zone trial

The Shanghai Free Trade Zone, where Chinese individuals may soon be allowed to invest in overseas markets directly. Photo: Xinhua

China may launch a trial scheme soon that would allow Chinese individuals in the Shanghai Free Trade Zone to invest in overseas markets directly for the first time, two sources with direct knowledge of the matter said on Wednesday.

Thursday, 30 April, 2015, 2:37am

Top Pudong official named chief of expanded Shanghai free-trade zone

Top Pudong official named chief of expanded Shanghai free-trade zone

Shanghai has appointed Shen Xiaoming, Pudong district's top official, as chief of the mainland's first free-trade zone - reflecting the city's ambitions to enlarge the Hong Kong-style market place.

15 Apr 2015 - 3:30pm 2 comments

Foreign banks see poor payback for rush into Shanghai free-trade zone

The latest doubling of the quota of offshore borrowings fails to excite foreign firms in the Shanghai free-trade zone. Photo: Bloomberg

Foreign banks betting on an early-mover advantage by rushing into the Shanghai free-trade zone are looking at slim pickings and high costs as the reward for their haste.

15 Feb 2015 - 7:15pm

Banks cautious about easing of funding rule in Shanghai free-trade zone

The easing of offshore funding is aimed to give banks in the Shanghai free-trade zone more freedom to replenish their capital. Photo: Xinhua

Banks in Shanghai's free-trade zone have cautiously welcomed a move from the central bank that will boost the volume of funding they can receive from offshore.

The one-way cracking of the capital account within the zone comes as concerns grow over capital outflow and analysts said the lightening of regulation could be a defensive measure to keep funds from washing outward.

13 Feb 2015 - 10:12pm

Other cities to enjoy certain practices of Shanghai free-trade zone, cabinet says

The entrance to the Shanghai free-trade zone. Similar zones are earmarked for Guangdong, Fujian and Tianjin. Photo: Reuters

The State Council yesterday published a list of Shanghai free-trade zone policies that could be replicated in other parts of the mainland in an attempt to accelerate liberalising the capital account of the yuan.

30 Jan 2015 - 2:12am 2 comments

Commerce minister details scale of China's new free-trade zones

A man strolls past the entrance of the Shanghai free-trade zone in Pudong district. Three new zones planned in Guangdong, Fujian and Tianjin will cover high-performing coastal economic centres. Photo: Reuters

A new free-trade zone in southern China will sprawl across more than 100 sq km, mainland media reported on Friday as the State Council submitted proposal to the National People’s Congress for setting up three new FTZ and expanding the existing one in Shanghai.

27 Dec 2014 - 7:36pm

State Council approves free-trade zones for Tianjin, Fujian and Guangdong

State Council approved plans to set up three more free-trade zones in an executive meeting chaired by Premier Li Keqiang. Photo: Xinhua

Tianjin, Fujian and Guangdong will follow Shanghai's lead and establish free-trade zones in their jurisdictions.

13 Dec 2014 - 1:53am 3 comments

Westpac opens sub-branch in Shanghai free-trade zone

Westpac did not elaborate on the immediate significance of its move into the Shanghai free-trade zone. Photo: AFP

Australia’s Westpac Banking Corporation said on Thursday it had opened a sub-branch in Shanghai’s free-trade zone.

4 Dec 2014 - 11:09am

Shanghai mayor pledges to speed up financial reforms in free-trade zone

Promised reforms at the trade zone have yet to be fulfilled.

Shanghai's mayor promised yesterday to speed up development of the mainland's first free-trade zone (FTZ) a year after it opened, as a chorus of foreign companies expressed disappointment over the pace of pledged reforms.

3 Nov 2014 - 4:19am

Xi Jinping fluffs lines in sticking to FTZ script

Xi Jinping fluffs lines in sticking to FTZ script

I always thought it was Mr Xi's predecessor, President Hu Jintao, who conceived it his mission in life to remain on script no matter how great the embarrassment.

30 Oct 2014 - 6:26am

Christie's gives thumbs up to Shanghai FTZ

Outlook for the mainland China art market is bullish as the number of discerning collectors is growing, according to Christie's. Photo: AFP

Most foreign investors might be getting impatient with the slow progress at Shanghai's much-toted Shanghai free-trade zone (FTZ), but the mainland's 29 square kilometre "mini Hong Kong" has got a thumping approval from Christie's.

27 Oct 2014 - 6:00am

Shanghai free-trade zone still has much to prove

Beijing is lifting restrictions on foreign investment in more than 20 sectors in the zone, including the lucrative shipping industry.

While the fledgling Shanghai free-trade zone, a pilot for the future liberalisation of service industries, is yet to live up to the hype of its launch, it still enjoys high-level political support.

3 Oct 2014 - 8:30am

Beijing eases restrictions on foreign firms in year-old Shanghai free-trade zone

The new measures also include lifting of some restrictions in the manufacturing sector, such as on motorcycles, aviation engine parts and railway-bridge and station equipment, also aimed at wooing foreign investors to the zone. Photo: AFP

Beijing is lifting restrictions on foreign investments in several industries in Shanghai's FTZ, a day before the much-hyped "mini Hong Kong" marks its first year in business.

29 Sep 2014 - 6:20pm

Established rivals may keep Shanghai trade zone's gold exchange in check

The launch of the international gold trading platform comes a year after the establishment of Shanghai's free-trade zone. Photo: Reuters

China's launch of an international gold exchange in the Shanghai Free-Trade Zone 11 days ahead of schedule last week, may not be much help as it seeks to compete with established gold markets such as New York or Singapore.

22 Sep 2014 - 4:28am

International gold trading launched in Shanghai free-trade zone

Li Keqiang has been a strong advocate for the free-trade zone, despite facing obstruction from ministry-level authorities. Photo: Reuters

The Shanghai Gold Exchange officially launched its international trading platform in the city's free-trade zone (FTZ) last night, the first such board in the zone, with hopes of setting benchmark prices for the precious metal in Asia.

19 Sep 2014 - 4:56am