China’s central bank said it would ease the way for foreign investors to plow money into a highly touted free-trade zone in Shanghai and let Chinese residents use the zone as a base for investment overseas by loosening restrictions on investment flows that apply elsewhere in China.
In relaxing some controls, the People’s Bank of China also made clear that it won’t let the free-trade zone become a back door to circumventing long-standing financial-sector restrictions throughout China. A blueprint unveiled on Monday essentially sought to erect a wall around the 11-square-mile China (Shanghai) Pilot Free Trade Zone and prevent money from seeping out of the zone into the rest of the country.
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Bob Davis and Dinny McMahon, The Wall Street Journal via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/gWnvnyyBqqA/
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