(John Whalley – World Economic Forum)
Since September 2013 China has been operating a new form of free trade zone based in a small area of Shanghai, called the China (Shanghai) Pilot Free Trade Zone (SPFTZ).
It reflects new thinking in China as to how to move forward to a new policy regime to maintain or even accelerate growth through liberalised capital account transactions and speeded trade clearance at one and the same time.
It has been compared in significance to Deng Xiaoping’s 1992 southern tour which launched zone based foreign investment and trade policies which were the basis for China’s industrial growth and integration into the world economy. Click here to read more.