Shanghai: Shanghai Waigaoqiao Free Trade Zone Development Co today announced that it will issue RMB2.67bn worth of new shares and the funds raised will be used to develop the recently approved Shanghai Free Trade Zone (FTZ).
The Shanghai FTZ will be the first free trade zone on the Chinese mainland. Within the experimental free trade zone, goods can be imported, processed and re-exported without the intervention of customs authorities.
Waigaoqiao said the company is the only listed company in the Shanghai FTZ project, and it will undertake the financing task for the project. [30/08/13]
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