Meeting with Shanghai Development Reform Commission DDG on Shanghai FTZ
2016-05-18 | Shanghai
Vice President of the European Chamber Meets with DDG of Shanghai DRC on the Three-year Anniversary of the Launch of China (Shanghai) Pilot Free Trade Zone on May 18
During this meeting, Mr. Mick Adams, Vice President of European Chamber and Mr. Zhu Min, DDG of Shanghai DRC exchanged views on the progresses and achievements of the Shanghai FTZ, clarified the relations between the Market Access Negative List and the FTZ Negative List, and discussed cooperation on the upcoming FTZ events.
In general, the adoption of the Negative List is to restrict government power and provide more room for the market. In this regard, Shanghai is testing the Market Access Negative List and will provide Beijing with suggestions on how to better coordinate with local and central requirements on foreign investment. Both Negative Lists are expected to be further shortened in the future.
Regarding financial sector reform, Mr. Adams pointed out that Shanghai needs a more effective regulatory system as China has become a more open economy to the world. Mr. Zhu replied that Shanghai very much wants to reform the financial service industry and is looking for a more suitable time window to further open up the sector. New measures aiming to stabilize the financial market are under discussion and will be announced at the Lujiazui Forum in mid-June.
As the Shanghai FTZ is going to the end of its 1st three-year phase, a series of events and seminars will be held in July and September. As the organizer, Shanghai DRC would like to invite the European Chamber members to participate. Mr. Adams welcomed the invitation and hoped our members to voice their concerns and recommendations through this opportunity.