Business / Economy

Shanghai FTZ expands to include three districts

(Xinhua) Updated: 2015-04-28 09:03

SHANGHAI - The China (Shanghai) Pilot Free Trade Zone (FTZ) on Monday expanded to include the city's commercial and financial center Lujiazui and two other districts.

By including Lujiazui and the districts of Jinqiao and Zhangjiang, the FTZ will enlarge its area to 120 square meters, the largest of all four FTZs, according to the city government and the Shanghai FTZ administrative committee.

The committee office will also be established in the Pudong New Area government, where the FTZ is located, in an effort to deepen government reforms and promote FTZ experience in Pudong, said Sun Jiwei, vice-director of the committee and government head of Pudong.

Since the launch of the Shanghai FTZ in 2013, China has used it to test a number of new policies including negative list management on foreign investment, preferential trade and financial policies, and opening up more industries to foreign investors.

The FTZ program was expanded earlier this month with the launch of three new FTZs in Tianjin, Guangdong and Fujian.

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