Time of opportunities, challenges

Timeline

Shanghai FTZ

• 2005

Shanghai, Shenzhen and Tianjin all applied to the State Council to upgrade their respective tariff-free zones to the status of a free trade zone.

• In November 2011

Shanghai announced during the 11th World Free Zone Convention that it would embark on building an FTZ.

• In March 2013

During his visit to the Waigaoqiao bonded area, Premier Li Keqiang suggested that Shanghai should study building a FTZ on the basis of existing bonded areas.

• May 14

The Shanghai FTZ was launched as a national-level project.

• June

A modified version of the plan was submitted to the related ministries for approval.

• July 3

A draft plan of the Shanghai FTZ was passed at an executive meeting of the State Council.

• Aug 16

An executive meeting of the State Council decided that certain domestic commercial laws and regulations would be suspended in the area to remove barriers to foreign investments.

• Aug 22

The Ministry of Commerce said the State Council had officially approved the establishment of the Shanghai FTZ.