208 enterprises register in Shanghai FTZ

0 Comment(s)Print E-mail Xinhua, October 28, 2013
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The Shanghai pilot free trade zone (FTZ) has seen a total of 208 newly registered enterprises since Oct. 1, local authorities announced Monday.

The newly registered enterprises include 188 domestic and 20 overseas-funded ones, according to Shanghai Administration for Industry and Commerce.

Registered capital ranges from 30,000 yuan (4,929 U.S. dollars) to 480.8 million yuan (79 million U.S. dollars), the administration said.

Of the newly registered enterprises, trade and investment-asset management industries had most registrations, 122 and 36 respectively.

The Chinese government officially opened the 29-square-km Shanghai FTZ on Sept. 29.

Testing of a convertible yuan, wider opening of 18 service sectors, a negative list approach in governing foreign investment, among other steps, are expected to unleash economic potential in the zone in the coming two to three years.

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