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China Free Trade Zone
Date & Time Listed: 2016-10-12 04:20:01 (GMT)
A Closer Look at China’s Free Trade Zones When the Shanghai Free Trade Zone (FTZ) was first introduced in 2013, it was presented as a testing ground for new reforms. Where proven successful, these would be expanded across the entire country. In this way, we have seen the easing of restrictions on foreign currency exchange and foreign participation in China’s e-commerce sector – both originally FTZ pilot schemes – implemented nationwide. Other key aspects include the negative list, which states exhaustively in which sectors foreign investment is restricted; and the faster company registration process. Both concepts are gradually being implemented across the rest of China. Many major cities are now conducting trial programs where company registration can be completed online or only require a visit to one location, or where the business license now also covers tax registration and the enterprise code. The Foreign Investment Law, of which the first draft was made available for public comment in January 2015, would take the concept of a negative list for foreign investment nationwide. As of yet, there is however no news on the progress of the Foreign Investment Law. Thre
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