On 3 July 2013, the State Council approved the establishment of the China (Shanghai) Free Trade Test Zone (“SFTZ”), which will be comprised of four existing free trade zones in Shanghai. By including the word “China” at the beginning of the SFTZ’s official name, we believe the central government intends to use the SFTZ to expand the liberalization of the SFTZ to other free trade zones in China and to promote China’s dream of making Shanghai the center of the global economy.
Pursuant to recently published policies, as well as those still in the legislative process at the central and local levels, the SFTZ may: More…