Beijing delays Shanghai FTZ

Beijing has delayed the opening of a free-trade zone in Shanghai, fearing loopholes in the legal framework, South China Morning Post reported. The central government had planned to unveil the rules for the zone late last month, but policymakers put lawyers back to work out of concern the legal framework needed tightening and to reduce the risk of legal disputes involving foreign investors, government sources familiar with the matter said. The proposed set of rules could contain as many as 21 initiatives to attract foreign investment, covering sectors as diverse as financial services to commodities trading and culture-based businesses.