China’s State Council has released a document with revised regulations on the country’s four free trade zones (FTZs) in Shanghai, Guangdong, Tianjin and Fujian, to further promote the development of the areas.
The new regulations have relaxed foreign investment restrictions in a number of sectors including railway, automobile, grain, entertainment and shipping.
The regulation changes in FTZ reflect Beijing’s attempt to attract more foreign capital amid the slowing down of domestic economy.
In the shipping sector, the new rules have allowed establishment of wholly foreign owned shipmanagement company and loading and unloading businesses, while also expanding the foreign shareholding percentage limit of international shipping agency businesses to 51%.
