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New free trade zone opens in Shanghai

10 October 2013Written by ATG Reporter

Christie’s mainland Chinese debut, the First Shanghai Auction on September 26, coincided with the opening of a free-trade zone in Shanghai.

The new zone, which covers 11 sq miles (29 sq km), is divided into 18 sectors, ranging from finance to shipping, where regulations will be loosened to facilitate imports and exports.

Restrictions on foreign investment will be eased inside the area while exchange rates and interest rates will be set by markets.

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Written by

ATG Reporter

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China

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