China opened a pilot free-trade zone in Shanghai on Sept. 29, but details on how the zone will operate remain sparse. Announced in July by the State Council, the zone will cover approximately 11 square miles. The State Council announced on Friday that “foreign and private companies would soon be allowed to invest freely in banks, shipping ventures, travel agencies, and health and medical insurers.” Additionally, the free-trade zone will see more liberal interest rates, wider convertibility of the Chinese yuan, and fewer regulations in areas such as foreign investment in telecommunications and the production and sale of video game consoles. (New York Times, Wall Street Journal, Sept. 29, 2013)
October 18, 2013
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SR: The Week’s China Reads
Every week, China Program’s Senior Advisor Dr. Robert A. Kapp compiles a reading list and provides commentary, for you to better understand China.
Robert A. Kapp is senior advisor to the China Program at the Carter Center. He has been principal of Robert A. Kapp and Associates, a business consulting firm, since 2004. From 1994 through 2004 he served as President of the United States-China Business Council…