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SHANGHAI FREE TRADE ZONE CLEARED: NEW CHALLENGE FOR HONG KONG
July 5, 2013
BEIJING – China’s State Council has formally endorsed Shanghai’s plan to open the Mainland's first free-trade zone in Pudong this year. The free port will be a testing ground for major policy reforms to free up cross-border commodity and capital flows, areas in which it threatens to eclipse Hong Kong's traditional contribution to China’s national economy.