• Service: Tax, Global Indirect Tax, International Tax
  • Type: Regulatory update
  • Date: 8/6/2014

China - Regulation under Shanghai pilot free trade zone 

August 6: A regulation providing guidance for the Shanghai pilot free trade zone is effective 1 August 2014.

The regulation, as approved by the 14th Shanghai Standing Committee of the National People's Congress, is contained in Announcement [2014] No. 14 (25 July 2014) and consist of nine chapters, and 57 articles. This is first “local regulation” for the China (Shanghai) pilot free trade zone.

To promote construction of the free trade zone, the regulation outlines the management system, openness to investment, trade facilitation, financial service, management of taxation, comprehensive supervision and legal environment. It not only summarizes existing rules for the free trade zone, but the regulation also provides the legal framework for reform of the free trade zone.

Read an August 2014 report prepared by the KPMG member firm in China: Pilot Free Trade Zone Series — Regulation for China (Shanghai) Pilot Free Trade Zone has been released

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