China today launched their promised, and potentially ground-breaking, FTZ in an area of nearly 29 sq km on the eastern outskirts of Shanghai’s commercial centre.
Part of the Shanghai FTZ
Officials gave no details on when specific initiatives will be implemented but the government has said most will be introduced in the next three years.. Some were outlined on Friday and posted here.
State-run Xinhua news agency quoted Commerce Minister Gao Hucheng as saying that the creation of the FTZ was a crucial decision for China’s next wave of reform and opening-up.
It follows the trend of global economic developments and reflects a more active strategy of opening-up.
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