China Kicks Off Free Trade Zone Momentum In Second Quarter Of 2017
New 21-point plan for Shanghai Free Trade Zone, seven new FTZs launched
On 31 March 2017, China’s State Council issued the Plan for the Comprehensive Deepening of the Reform and Opening-up of the China (Shanghai) Pilot Free Trade Zone (the “Further Plan”), which lists 21 new initiatives for the Shanghai Pilot Free Trade Zone (“the Shanghai FTZ”).
On the same day, the State Council released an “overall plan” for the launch of seven new free trade zones (the “New FTZs”) in Chongqing Municipality and the provinces of Henan, Hubei, Liaoning, Shaanxi, Sichuan and Zhejiang from 1 April 2017 (each, a “New Overall Plan”).
In this alert, we consider the key improvements contemplated for the Shanghai FTZ in the Further Plan and the developments for the New FTZs outlined in the New Overall Plans.