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On 29 September 2013, the Chinese government formally established the Shanghai Pilot Free Trade Zone (SH PFTZ). How the area will affect businesses in China and throughout Asia is top of mind as multinational corporations will seek to benefit from more relaxed financial and investment controls. The establishment of the SH PFTZ has been recognised as a crucial economic reform initiated by China’s new leadership. The pilot project in Shanghai includes reforms focused on financial restructuring, an upgrading of the customs supervision framework, a simplification of administrative systems supporting the further opening-up of the services sector, and the creation of a competitive regulatory and tax environment for businesses.
ChinaLux, the China - Luxembourg Chamber of...
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