China Tax Alert - Issue 26, September 2013
The China (Shanghai) Pilot Free Trade Zone was officially launched on 29 September, 2013. The State Council recently released the overall plan for the China (Shanghai) Pilot Free Trade Zone, which sets out the blueprint of the Zone’s key underlying principles - improve investment facilitations to meet international standards; deregulation of currency exchange controls; and improve efficiency and flexibility in terms of government regulatory controls and legal environment specification within the next two to three years after these reforms.
The establishment of the China (Shanghai) Pilot Free Trade Zone is no doubt a significant milestone for China’s economy transformation and we expect this to be only the first of many new reforms to come in the near future. Given the interest from both domestic and internal investors, we will keep you updated regarding the latest reforms, hot topics, insights and opportunities introduced as part the Free Trade Zone’s overall plan.