Beijing relaxes FTZ restrictions

Beijing relaxes FTZ restrictions

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%.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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