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Nation eases rules in free trade zones

The central government has decided to ease investment rules in four free trade zones, temporarily allowing foreign investors to set up wholly owned companies in the fields of iron, steel production and gas station operations, according to its website on Tuesday. The resolution on adjustment of regulations for administrative approvals in the Shanghai, Guangdong, Tianjin and Fujian pilot FTZs was passed by the National People's Congress Standing Committee, it said. The adjustment contains 51 items, with more than 20 of them involving changes from administrative approval of managerial registration for foreign investment.