British banks HSBC and Standard Chartered are tipped to become the first two foreign banks to set up a presence in Shanghai's planned free trade zone.
Officials have denied rumors of a 15 percent corporate tax rate in the Shanghai Free Trade Zone, the Shanghai Securities Journal reported on Monday.
Guangdong, one of China's economic powerhouses, is conducting a feasibility study of a free trade zone in cooperation with Hong Kong and Macao.
China's legislature gave the green light to the State Council, to modify the implementation of laws related to foreign enterprises at a pilot free trade zone in Shanghai.
The Political Bureau of the Communist Party of China (CPC) Central Committee threw its weight behind the planned Shanghai pilot free trade zone (FTZ) on Tuesday.
China's top legislature on Monday discussed a draft proposal on establishing a pilot free trade zone in Shanghai.
The approval of the establishment of Shanghai free trade zone was considered a big step of further financial reform and opening up.
China's State Council has approved the establishment of a pilot free trade zone in Shanghai, the Ministry of Commerce announced on Thursday.
The State Council will suspend some laws concerning the establishment and changing of foreign-invested firms operating in the Shanghai free trade zone.
The plan to establish a free trade zone in Shanghai is undergoing procedures of approval.
Now that the Shanghai free trade zone has got the State Council's approval, people have begun to wonder what Shanghai would be like without it.
The State Council approved Shanghai's free trade zone project on Wednesday, which will catapult the city to the forefront of global logistics centers.
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