Wet weather fails to dampen FTZ interest

The wet and windy weather in Shanghai failed to dampen enthusiasm for the Shanghai Pilot Free Trade Zone, with many companies more than happy to take advantage of the reforms on offer, registering with the experimental zone as soon as it began operations on Monday.

The eastern China city issued a red alarm for rainstorms in the morning caused by typhoon Fitow but No 9 Jilong Road in the Waigaoqiao area, where the service center and administration office of the FTZ is located, thronged with people from the 9 am opening.

Sun Baohua from Wenzhou, Zhejiang province, was second in the line up. His application for opening a small financial services company in the FTZ was handed in at 10 am and he was told the documents could be ready by next Tuesday.