FTZ to unveil new negative list
Print Edition
SHANGHAI’S free trade zone is set to unveil a new version of a negative list for foreign investment in the first half of next year to improve clarity for investors, a zone management official said yesterday.
The new list, the third version since the FTZ was launched on September 30 last year, aims to reduce the number of curbs and be more transparent so that foreign investment will rise, said Zhu Min, deputy chairman of FTZ Administration, at the forum “The FTZ and Hongqiao Hub: Shanghai’s New Future.”
Apart from the new list, the FTZ’s plans for next year include a crude oil futures exchange, more financial leasing activities, and drafting rules for an innovative exchange for insurance products, he said.
Speaking at the same forum, Bangkok Bank President Chartsiri Sophonpanich said that companies in transport, auto-parts, electronics, petrochemicals and agricultures in Thailand, Laos, Vietnam and Myanmar are keen to explore investment opportunities in the zone as curbs are eased.
The bank, which brought over 60 southeast Asian business executives on a three-day tour to Shanghai, has received regulatory approval for a new sub-branch which will open soon in the zone to serve cross-border financing needs.
The zone’s administration data showed that multi-national companies reported cross-border capital operations of 49.89 billion yuan (US$8.12 billion) in the first 10 months this year, up 67 percent monthly in the period.
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