China
On May 20, 2015, the Luxembourg Chamber of Commerce had the great privilege to welcome Mr. Zhou Ya, Vice Mayor of Shanghai Pudong New Area, to give first-hand information about the China (Shanghai) Pilot Free Trade Zone (CSPFTZ) during a presentation held at the premises of the Chamber of Commerce.
Mr. Zhou introduced the reforms already launched in the CSPFTZ and answered questions from the Luxembourg audience with regard to the latest developments. It was a unique opportunity for interested companies to hear more about the CSPFTZ directly from the implementing authorities.
On April 27, 2015, the expansion of the China (Shanghai) Pilot Free Trade Zone was officially launched by the Shanghai Municipal People's Government. This expansion brings unprecedented opportunities to European businesses in Shanghai and will pilot significant economic reforms set out in the decision of the Third Plenary Session of the CPC Central Committee in November 2013.
One and a half year after the official launch of the CSPFTZ the extension is expected to give another boost to this inaugural project. In order to better understand the policies and measures of the CSPFTZ and to prepare interested companies to make use of the free trade policy to develop their business, more than 20 Luxembourg companies joined the briefing during which the following topics have been discussed:
- Analyze China (Shanghai) Pilot Free Trade Zone: Commercial opportunities brought by the CSPFTZ, foreign investment access records, negative list, etc.
- Trade: Customs clearance and service trade facilitation
- Finance: Financial innovation reform, foreign exchange management