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    China Business
     Jul 8, '14


Shanghai free-trade zone reforms falter
By Michael Lelyveld

Nine months after the launch of Shanghai's free-trade zone to great fanfare, China's showcase economic initiative seems to have landed with a thud. In an unusually critical report on June 17, the official English-language China Daily aired complaints from top leaders that the reform experiment had accomplished little so far.

"Most of the 10,000 enterprises registered in the FTZ [free-trade



zone] are disappointed with the slow pace of reform," China Daily said.

The commentary came after President Xi Jinping conducted an inspection tour of the pilot free-trade zone on May 23-24, leaving nervous local officials with seemingly contradictory advice.

Xi urged Shanghai to "push forward" with reforms "while controlling risks and gradually making improvements", the official Xinhua news agency reported, leaving it unclear whether liberalization in the economic laboratory should go fast or slow.

On balance, the message seemed to be that the government wanted Shanghai officials to move more boldly with the reform agenda, but they would be responsible if anything goes wrong. More ...

Reprinted with the permission of Radio Free Asia. For original article, see here

Copyright (c) 2014, Radio Free Asia.





 

 

 
 



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