China opens landmark Shanghai free trade zone | Bangkok Post: news

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Shanghai free trade zone unveiled

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China opened its new Shanghai pilot free trade zone Sunday that has been called a test for deepening market-oriented financial reforms for the next decade, state media said. 

The project provides more open trade in services, with foreign and private investment permitted in 18 service sectors including finance, shipping, commerce and culture.

It also promises to liberalize foreign currency exchange, which analysts see as a key part of Shanghai's drive to build itself into an international financial centre by 2020.

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