Shanghai FTZ Reforms Start Going National

China is expanding successful reforms from the Shanghai FTZ testing ground to the entire nation.

Some Shanghai FTZ Reform Ideas Introduced to Rest of Country
The free trade zone in Shanghai that opened in late September last year has served as a testing ground for more than 20 reform measures that are also being introduced to other parts of the country.

The measures range from looser restrictions on investment and trade to trailblazing pilots enhancing the use of yuan overseas, the Shanghai government says. As of November 1, their number is at least 22.

...The Central Leading Group on Financial and Economic Affairs, the Communist Party's top decision-making body for economic policies, sent a team to Shanghai in October to examine the progress of reform in the FTZ. The team consisted of officials from the Ministry of Commerce, the central bank and the regulators for the banking, securities and insurance industries.

The investigators focused on how to coordinate and promote measures enhancing the convertibility of the capital account, a source close to the situation said.

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