Shanghai is expected to ease foreign investment
Shanghai is likely to ease limits this year on foreign investment in the banking, securities brokerage, securities fund management, futures trading and insurance sectors, according to China (Shanghai) Pilot Free Trade Zone.
The move is in line with the launch of updated guidance on foreign investment in the free trade zone, in accordance with the plan to make the free trade zone a hub for pilot market opening programs, said a statement from the Shanghai FTZ authorities.
In 2017, limits on foreign investment in accounting and auditing, construction design and rating agencies will be eased in the free trade zone, with details to be launched soon, the statement said.
Shanghai FTZ was established on Sept 29, 2013, with an initial area of 28.78 square kilometers. It was expanded to 120.72 square kilometers on Dec 28, 2014, to enable it to benefit more sectors and market players, and further the pace of reform and opening up.