Further concessions to shipping at Shanghai’s FTZ

Shanghai: As Shanghai celebrates the first anniversary of the opening of its free trade zone a total of 27 sectors have seen many restrictions lifted. 

Foreigners can now control majority stakes in a number of industries and for a select few authorities have even granted the possibility of sole foreign ownership. 

Foreign firms will now be able to operate international maritime container freight stations and container yard businesses for the first time. Likewise, overseas firms can hold 51% stakes in international shipping agencies for the first time. 

Authorities at the zone have promised to speed up financial reforms.  [02/10/14]

 

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