Hong Kong warns on complacency over Chinese trade zone | Bangkok Post: news

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Hong Kong warns on complacency over Chinese trade zone

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Hong Kong's de-facto central bank warned on Friday that the city must not "sit on its laurels" if it wants to remain a global financial centre after plans for China's first free trade zone were revealed. 

IFC tower (C) is seen in the financial district of Hong Kong, on September 6, 2013. Hong Kong's de-facto central bank warned the city must not "sit on its laurels" if it wants to remain a global financial centre after plans for China's first free trade zone were revealed.

Draft proposals for the free trade zone (FTZ) in Shanghai, seen by AFP, showed that the zone goes beyond greater liberalisation of trade to take in investment and financial services -- including free currency convertibility.

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