New policy to benefit investment

Overseas employees in FTZ get green light to access local banking services

China's central bank will allow qualified international employees working in China (Shanghai) Pilot Free Trade Zone to open overseas personal free trade accounts, as part of a series of reforms encouraging innovation and cross-border investment.

The measure, announced at a news conference in Shanghai on Wednesday by the People's Bank of China, is the first of its kind allowing international staff working in the city to have easy and direct financing services through bank accounts at local lenders.