Shanghai Free Trade Zone Gets Approval


China’s State Council approved Shanghai to set up the mainland’s first free trade zone.

The free trade zone spans 28.78 square kilometres in Waigaoqiao, Yangshan and Pudong districts in Shanghai.

The free-trade zone is likely to serve as a testing ground for the central government to launch major financial reforms later on.

In March, Chinese Premier Li Keqiang, during a visit in Shanghai, remarked that the government encourages Shanghai to set up a free trade zone as an experiment for further economic reforms in the country.

 
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