Over 200 enterprises register in Shanghai FTZ

SHANGHAI - The Shanghai pilot free trade zone (FTZ) has seen a total of 208 newly registered enterprises since October 1, local authorities announced Monday.

The newly registered enterprises include 188 domestic and 20 overseas-funded ones, according to Shanghai Administration for Industry and Commerce.

Registered capital ranges from 30,000 yuan ($4,929) to 480.8 million yuan ($79 million), the administration said.

Of the newly registered enterprises, trade and investment-asset management industries had most registrations, 122 and 36 respectively.

The Chinese government officially opened the 29-square-km Shanghai FTZ on September 29.

Testing of a convertible yuan, wider opening of 18 service sectors, a negative list approach in governing foreign investment, among other steps, are expected to unleash economic potential in the zone in the coming two to three years.