Shanghai tops the country in FTZ liberalization
Shanghai leads the nation in the level of investment liberalization and facilitation, according to the latest ranking of Chinese free trade zones.
The PwC study of about two dozen FTZs takes into account several criteria, such as business environment and accessibility, investment promotion and investment protection.
The FTZs in Shanghai, Guangdong and Beijing were ranked the top three. The study was released at the fourth China International Import Expo.
It also outlined the best practices in each zone to help promote these initiatives across the country.
Shanghai especially stands out when it comes to attracting foreign investors and service providers to register their business operations in the city.
Many of those are first-of-a-kind opened by overseas businesses in the country under a pilot scheme.
"The FTZ serves as an important platform to facilitate investment and enhance opening-up in the financial sector, and it's an essential requirement for FTZs to facilitate investment liberalization," said Yu Bo, PwC China Tax and Business Advisory Lead Partner.