FTZ to further deepen reform and opening-up

This year marks the fifth anniversary of China (Shanghai) Pilot Free Trade Zone, the country's first free trade experimental zone. Since its establishment, the Shanghai FTZ has been exploring new paths and accumulating experience on how to deepen reform and opening-up.

The Shanghai FTZ has extensively explored areas such as investment, trade and finance, and gathered valuable experiences in them. As a result, about 95 percent of the foreign investment projects in the FTZ have been launched just after being registered, rather than after approval.

By the end of 2016, the Shanghai FTZ had launched a pilot reform of separating business licenses issued by the industry and commerce departments and those certificates issued by other departments.