Shanghai FTZ mulls cutting negative list

China (Shanghai) Pilot Free Trade Zone (FTZ) plans to shorten the negative list this year to attract more foreign investment, Shanghai Securities News reported Wednesday.

Zhang Hong, head of finance bureau of FTZ, said the negative list was expected to be shortened from 190 to 130 this year to further increase foreign investment and lift the FTZ standards to the global level.

As a new attempt in FTZ management, negative list management mode has been in force since September last year.

By the end of April, 17,000 enterprises, including financial services, international trade and garment companies, have registered in the zone. Zhang said an international financial asset trading platform is in the development stage.

When asked about key financial reforms planned for the future, Zhang said they expect the application of free-trade banking account system in the FTZ.

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