Shanghai expects to implement over 90 percent of the 100 opening-up measures this year

Shanghai expects to implement over 90 percent of the newly-released 100 measures aimed at promoting opening up by the end of 2018.

The city will ensure that the 100 measures, which it unveiled on Tuesday, will be put in practice in accordance with the central government's plans while local issues not related to the central government will be launched immediately from the date of the release, Zhou Bo, Shanghai’s executive vice mayor, said at a press conference today.

"In principle, most of the measures are planned to be implemented in the third quarter," Zhou said, adding that the measures relating to the central government are mainly in the financial field.

"Among the 100 measures, 34 need to be have the nation's support, accounting for one-third of the total number," Zhou said.

Meanwhile, the city's Free Trade Zone will be encouraged to innovate further, and the municipal government will support districts to open wider and promote the development of four brands — Shanghai Manufacturing, Shanghai Services, Shanghai Shopping and Shanghai Culture.

Li Jun, vice director of the Shanghai Financial Service Office, said that the city government will expend efforts to ensure the Shanghai-London Stock Connect go live this year. The stock connect program is planned to link the markets of the two cities through depositary receipts, according to Li.

Shanghai introduced an action plan for the 100 measures on Tuesday in five areas of finance, advanced industries, intellectual property, supportive platforms for imports, and business environment.