The official launch of China’s pilot Free Trade Zone (FTZ) in Shanghai on September 29, 2013, marked a significant milestone for the country’s economic reforms and its strategy of opening up its domestic markets for foreign investors. Th e FTZ is expected to liberalize trade and the provision of services and help to develop opportunities available to off shore companies. Th e main purposes of the FTZ are to: improve the effi ciency and eff ectiveness of government functions; open up the economy to new investment opportunities; accelerate the development of trading; widen the opening up of 18 service industries, and align the existing legal framework with respective to foreign investments. Widely perceived as a testing ground for the shaping of foreign investment landscape, the FTZ covers an area of 28 square kilometers in Shanghai and comprises four zones specially administered by customs authorities: the Waigaoqiao Free Trade Zone, Waigaoqiao Bonded Logistic Park, Yangshan Free Trade Port Area and Pudong Airport Free Trade Zone.
|Number of pages||13|
|Journal||International Tax Journal|
|Publication status||Published - Jul 2014|