New legal era for Shanghai trade zone

Move aimed at 'seamless transition' ahead of official launch on Sunday

The municipal legislature of Shanghai on Thursday endorsed the legal framework for the China (Shanghai) Pilot Free Trade Zone, paving the way for the official launch on Sunday, when the first batch of new laws and regulations are expected to be announced.

The Standing Committee of the Shanghai Municipal People's Congress said in a statement that it decided to adjust some of its local regulations and suspend the 1996 Regulations on Examination and Approval of Foreign Investment Enterprises of Shanghai Municipality, which are expected to be superseded by the new zone's regulations.