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China Approves Shanghai Free Trade Zone

Covering 28.7 square kilometres, the new zone (a pilot project) will be built on the basis of existing bonded zones, the Waigaoqiao Free Trade Zone, Waigaoqiao Free Trade Logistics Park, Yangshan Free Trade Port Area and Pudong Airport Comprehensive Free Trade Zone. Citing a Ministry of Commerce statement, Xinhua, report that the zone is a crucial move in adapting to global economic and trade development and imposing a more proactive opening-up strategy…