The first day of October was China’s national day, so I picked a big news happened in China, China(Shanghai) Free Trade Zone launched on 28th September.
This pilot zone is seen as an important reform attempt of China after Deng Xiaoping, which shows the government’s determination of easing the restrictions of investment. For sure it would be another significant economic reformation of China, not only can it attract more foreign capital but it also can push the local development. A lot of people and companies have showed their interest in it. At least now it pushes real estate grow.
Shanghai’s pilot zone recalls Deng Xiaoping’s flagship regional experiment.This experimental zone is an attempt to catch up with the fast grow economy. As a matter of fact, the zone is not newly designed, but the new government made it come true. The details are not showed by the government yet, but we have known that the 29-square-kilometer-zone is expected to allow banks and other businesses within its boundaries to experiment in areas that are tightly controlled in China, including loosening regulation of interest rates and full convertibility of nation’s currency.
However, I also read news about some analysts said that the pilot zone would have a hard time competing with Hong Kong. As Hong Kong is already seen as a financial center of Asian. Now we are looking forward to the future of this free-trade zone, hopefully my homeland will gain another big success.
“Shanghai’s New Free Trade Zone Opens.” DW.DE. N.p., n.d. Web. 03 Oct. 2013. <http://www.dw.de/shanghais-new-free-trade-zone-opens/a-17124228>.
“Free Trade and Free Speech in Shanghai.” The New Yorker. N.p., n.d. Web. 03 Oct. 2013. <http://www.newyorker.com/online/blogs/currency/2013/10/free-trade-and-free-speech-in-shanghai.html>.
Sudworth, John. “Shanghai Free-trade Zone Launched.” BBC News. BBC, 29 Sept. 2013. Web. 03 Oct. 2013. <http://www.bbc.co.uk/news/business-24322313>.
Barboza, David. “Experimental Free-Trade Zone opens in Shanghai”. The New York Times, 29 Sept. 2013. Web. 03 Oct. 2013.<http://www.nytimes.com/2013/09/30/business/international/experimental-free-trade-zone-opened-in-shanghai.html?_r=0>
“上海自贸区能带来哪些实惠？.” DW.DE. N.p., n.d. Web. 03 Oct. 2013. <http://www.dw.de/上海自贸区能带来哪些实惠/a-17122109>.