Restrictions loosened in Shanghai trade zone

Authorities in the China (Shanghai) Pilot Free Trade Zone eliminated more than a quarter of the restrictions on foreign investors on Tuesday.

The zone's original "negative list", which outlines forbidden or restricted areas for foreign investment activities, had been criticized for having too many restrictions and a lack of transparency.

"The new list features more openness and transparency and is more in line with international standards," Dai Haibo, deputy director of administration committee of the zone, said at a news conference. For example, the zone has lifted the nine restrictions on foreign investment in manufacturing, four in commercial services and two in shipping services.