Shanghai promotes free trade zone in London

Shen Xiaoming talks with the representatives from the UK financial institutions. [Photo provided to chinadaily.com.cn]

A delegation from the Shanghai Pilot Free Trade Zone (FTZ), headed by Shen Xiaoming, the director of the FTZ's administration, visited the City of London, the Council that governs the financial district in London, the UK, on June 18 to promote the FTZ and attract investors from Europe, the Shanghai-based financial news organization China Business News (CBN) reported.

Shen briefed the British financial experts and investors about the Pudong New District and the innovative moves by Shanghai FTZ at a promotion meeting held in London's well-known financial district also known as the Square Mile. Shen expressed his hope that British enterprises can take advantages of the FTZ policies and enter the huge market through the Zone.

Shen meets Alan Yarrow (L), the Lord Mayor of the City of London. [Photo provided to chinadaily.com.cn]

"To promote the FTZ and draw experience from counterparts in London is the reason why I am here," said Shen in an interview with CBN, adding that the FTZ will meet international trade standards with more well-known enterprises settling in.

Before the promotion meeting, the delegation also held a roundtable meeting to answer questions on the FTZ regulations, private overseas investments and construction of the Shanghai Maritime Center. The meeting was attended by Alan Yarrow, the Lord Mayor of the City of London, Mark Boleat, the policy chairman at the City of London Corporation and representatives from the UK financial institutions.

Edited by Mevlut Katik