Shanghai granted free trade zone status
Shanghai has been granted official approval from Beijing to establish the largest free trade zone on the Chinese mainland. The move brings Shanghai a step closer to becoming a global financial trade and maritime hub.
BY RITZAU FINANS
The approval of Shanghai as a free trade zone is seen as a possible trial run by the central government, and the plans to launch major economic reforms are seen as part of the attempts to boost economic growth and to reduce the country's dependency on the export industry.
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