China inaugurates Shanghai trade zone in finance reform push
World BusinessSept 29, 2013
Citigroup Inc. and Bank of China Ltd. announced they will participate in Shanghai’s free trade zone, the 11-square-mile experiment in more relaxed financial and investment controls that was inaugurated today. The two banks were among the first to announce their participation in the zone, which opens Oct. 1 with the aim of creating a more efficient and open economic system, Commerce Minister Gao Hucheng said at an opening ceremony. The area is a testing ground for free-market policies that Premie