Shang­hai is ex­pected to ease for­eign in­vest­ment

China Daily (Canada) - - NEWS CAPSULE -

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.

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