Opening of the new pilot area of Shanghai free trade

Official opening of the new free trade zone of Shanghai.

The Prime Minister, Li Keqiang, opened officially the China (Shanghai) Pilot Free Trade Zone this Sunday. On an area of ??29 km2 to the East of commercial port of Shanghai, the Chinese economy will be liberalized.

In the pilot zone, the goods could be imported, transformed and re-exported without the intervention of customs authorities. The regulations will be suppled in twenty sectors of finance to sea freight. 25 Chinese and foreign companies as well as 11 financial institutions have already received authorization to operate in the zone .

This zone will serve as a laboratory to test some economic reforms (yuan convertibility, liberalization of interest rates) deemed urgent to deal with the anhelation of the growth. According to Chinese media, this the most audacious economic reform since the creation of the special economic zone of Shenzhen, it is more than 30 years.

source : people daily com cn, rts ch, le figaro fr