Shanghai Free-trade Zone Plan Revealed

Shanghai will start building a free-trade zone this year in a major step towards its long-term ambition of becoming a leading international trading hub.

 

The first step will be to upgrade and expand the city’s bonded areas, where goods can be imported, processed and re-exported without the intervention of customs authorities.

 

It would be the first such free-trade zone in China if approved by the central government.  The announcement was made by Shanghai’s Acting Mayor, Yang Xiong, in the government report delivered at the municipality’s People’s Congress.

 

~ SCMP, January 28, 2013 ~

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