Expanded Shanghai Pilot Free Trade Zone to boost scale of opening-up

The planned addition of a new area to the China (Shanghai) Pilot Free Trade Zone aims at a higher level of opening-up and deeper reform in broader fields, and is not just a simple expansion in space or a duplication of FTZ policies, a top official from Shanghai said on Tuesday.

"The new area will compare itself with the most attractive FTZs in the world, to explore new policies and institutions that will see more opening-up and more market competitiveness," Shanghai Mayor Ying Yong said at a media conference in Beijing.

"We are to try on different pilots and carry out greater risk assessments, to build a special economic function zone with stronger international influence and competitiveness."