Shanghai government is set to trim the so-called negative list of businesses that are off-limits, or come with restrictions, to investors in the city’s new free-trade zone (FTZ), China Business News reported Monday, citing Zhou Zhenhua, director of the Shanghai Development Research Center. The negative list could be cut by up to 40 percent this year as authorities seek to boost trading activities at the FTZ, it said. As the move will require detailed negotiations with the central government, it will be deemed satisfactory if local authorities ultimately win approval to trim the list by 20 to 30 percent, Zhou was quoted as saying. A total of 190 business activities had been put on the negative list in 2013, with 38 items labeled as “banned” and several others coming with restrictions, the report noted.
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