Shanghai will first expand the existing 'bonded' areas, where foreign merchandise can be brought in duty-free. Photo: Bloomberg

Shanghai sees global status via new free-trade zone

City banks on creation of mainland's first free-trade zone to put it among the world's top financial centres, leapfrogging HK as a financial hub

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Shanghai will first expand the existing 'bonded' areas, where foreign merchandise can be brought in duty-free. Photo: Bloomberg
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