Shanghai’s mayor, Yang Xiong, told reporters Sunday that initial restrictions on financial services in the newly established Shanghai Free Trade Zone were part of the government’s attempts to be transparent, and will likely be lifted in the long term, The Wall Street Journal. The government has hailed the zone as a major reform. Yet most of what is known about how the China (Shanghai) Pilot Free Trade Zone might actually operate comes from a “negative list” of what isn’t being permitted—more than 200 restrictions that limit foreign investment in banks, insurers and hotels.
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