Shanghai Municipality, Implementing Plan for the Implementation of the «Several Measures for Promoting Systematic Liberalization in Qualified Pilot Free Trade Zones and Free Trade Ports to Align with High International Standards»

上海市落实〈关于在有条件的自由贸易试验区和自由贸易港试点对接国际高标准推进制度型开放的若干措施〉实施方案

October 20, 2023 | BY

Susan Mok

Shanghai allows free flow of foreign capital for foreign investors

Issued: August 29, 2023

Effective: September 1, 2023

Main contents: In accordance with the principle of the equal treatment of the domestic and the foreign, with respect to a complete application relating to the engagement in financial services in the Shanghai Pilot Free Trade Zone or Lingang Special Area submitted in the legally prescribed format by a foreign financial institution, the investors in a foreign financial institution or a cross-border financial service provider, the financial authority in Shanghai shall render its decision within 120 days and notify the applicant thereof in a timely manner (Article 12).

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