Shanghai sees global status via free zone

Shanghai officials are banking on its role as the mainland’s first free-trade zone to put the city among the world’s top financial centres.

Under the plan, endorsed by the State Council on Wednesday, Shanghai is expected to allow companies to freely convert foreign exchange within specified areas of the city while allowing free capital and commodity inflow for the entire city.

via Business feed http://www.scmp.com/business/economy/article/1275689/shanghai-sees-global-status-free-zone