In This Issue:
- All Eyes on the Shanghai Free Trade Zone
- China and Korea Progress to Second Phase of Bilateral FTA Negotiations; Intersection of RCEP and TPP Remains Key Area of Interest
- Excerpt from All Eyes on the Shanghai Free Trade Zone:
The formal launch of the Shanghai Free Trade Zone (SFTZ) on September 29, 2013 could be a watershed moment for ushering in key financial and economic reform in China and propelling Shanghai into the ranks of the world’s leading financial centers such as Hong Kong, London and New York. The SFTZ, which will commence on a trial basis, is expected to cover 28 square kilometers and combine four existing bonded trade zones, namely the Yangshan Bonded Port, the Waigaoqiao Bonded Zone, the Waigaoqiao Bonded Logistics Park, and the Pudong Airport Comprehensive Bonded Zone. Most observers agree that the planned SFTZ will act initially as a test site for the liberalization of the services and financial services sectors, including initiatives covering 18 different industries and reforms concerning interest-rate deregulation, foreign direct investment (FDI), and convertibility of the Chinese currency among others.
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