China's (Shanghai) pilot free trade zone — China's springboard to a free market?

By Philip Cheng, Zhen (Katie) Feng, Andrew McGinty, Steven N Robinson, Maggie Shen, Jun Wei, Terence Wong and Roy G Zou 

On 29 September 2013, China officially launched the pilot free trade zone (FTZ) in Shanghai. At the inauguration ceremony, 25 Chinese and overseas companies together with 11 financial institutions were the first batch of entities granted permission to register in the trial zone.

The Shanghai FTZ will first cover a non-contiguous geographic area of 28.78km² in the city’s Pudong New Area, consisting of the following four existing bonded zones: Waigaoqiao Free Trade Zone, Waigaoqiao Free Trade Logistics Park, Pudong Airport Comprehensive Free Trade Zone and Yangshan Free Trade Port Area. It is believed that it may eventually expand to cover the entire Pudong district, which covers 1,210.4km²…

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