Today marks the official opening of the much-awaited Shanghai Free Trade Zone, a designated area of 30 square kilometers in China’s financial hub. It’s a pilot program for loosening regulations in various sectors.
An opening ceremony is being held. The government has vowed to remake its financial sector. In the spotlight is a convertible yuan, opening up the sector to foreign competition and lifting restrictions on interest rates.
The government has also highlighted five other key areas for the free trade zone. They are shipping and logistics, commercial trade, professional services such as law and construction, culture and entertainment, and social services, which will include education and healthcare.
In today’s program, we will bring you the latest developments from our reporters in Shanghai, and in-depth analysis from experts. So please stay with us.