Legislation roundup: New Free Trade Zone Plans and Negative List

Free Trade Zones

State Council, General Plan for the China (Guangdong) Pilot Free Trade Zone
国务院中国（广东）自由贸易试验区总体方案

The Guangdong FTZ will promote innovative development in cross-border renminbi business. It will promote the renminbi as a major currency for pricing and settlement of large cross-border trades and investments between the FTZ and Hong Kong, Macao and foreign countries.


State Council, General Plan for the China (Tianjin) Pilot Free Trade Zone
国务院中国（天津）自由贸易试验区总体方案

The Tianjin FTZ will launch pilot projects for market determination of interest rates and convertibility of renminbi on the capital account. It will realise liberalisation of cross-border financing and support multinational corporations in the centralised operation and management of their renminbi and foreign currency funds.


State Council, General Plan for the China (Fujian) Pilot Free Trade Zone
国务院中国（福建）自由贸易试验区总体方案

The Fujian FTZ will pioneer the promotion of investment and trade liberalisation with Taiwan. The Fujian FTZ will study and explore permitting Taiwanese financial institutions to establish equity joint venture fund management companies, with Taiwan investors holding at least 50% of the equity therein.


State Council, Plan for Further Intensifying Reform and Relaxation in the China (Shanghai) Pilot Free Trade Zone
国务院进一步深化中国（上海）自由贸易试验区改革开放方案

The Shanghai FTZ will explore implementing a foreign investment negative list system, and reduce and abolish restrictions on foreign investment access. The Shanghai FTZ is targeting convertibility on the capital account and opening of the financial service industry. The Shanghai FTZ will continue to play a leading role in promoting the facilitation of investment and trade, liberalisation of currency conversion, effective and convenient oversight and a compliant rule of law environment.


General Office of the State Council, Special Administrative Measures for Foreign Investment Access in Pilot Free Trade Zones (Negative List)
国务院办公厅自由贸易试验区外商投资准入特别管理措施（负面清单）

The General Office of the State Council has issued a foreign investment negative list that is applicable to all four FTZs. The number of items on the new negative list is reduced to 122 as compared to 139 items on the 2014 Shanghai FTZ negative list.

See the digest for more details.

Further reading
General Plan for the China (Shanghai) Pilot Free Trade Zone
Shanghai Municipality, Special Administrative Measures for Foreign Investment Access in the China (Shanghai) Pilot Free Trade Zone (Negative List) (Revised in 2014)
A window into the future
Not so free zone?