Foreigners will be allowed to own up to 55 percent of an e-commerce company in the Shanghai free trade zone, the Ministry of Industry and Information Technology said in a statement on its website Monday. The figure is up from 50 percent previously. In addition, the cap on foreign shareholding in app store and store-and-forward services will be removed. The Shanghai FTZ authority will fully open the special zone to foreign investors in call centers, domestic multi-party communications services and internet services, the report said. However, internet access providers are only allowed to provide services to clients within the FTZ.
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