Shanghai, China (4E) – Chinese Premier Li Keqiang is reportedly scheduled to officiate this month’s opening ceremony for a Shanghai free-trade zone, a project seen to test China’s new wave of economic reforms, according to sources with knowledge of the matter.
Depending on Li’s schedule, the event may be scheduled from Sept. 27 to 29, said the sources who declined to be identified because they did not have the authority to speak about the matter. Shanghai’s counselor’s office director Wang Xinkui said that Sept. 29 will be the official date of the zone’s opening, according to a Shanghai Daily report.
Sources say that ten projects will be disclosed during the opening ceremony, with 30 projects vying to be announced at the event.
On Sept. 15, the Chinese government is set to release a list of prohibited foreign investments in the zone, the sources said. In a statement released in August, the Ministry of Commerce said the list would help simplify approvals for proposed projects by foreign investors.
Former People’s Bank of China deputy governor Wu Xiaoling told reporters at the China Europe International Business School in Beijing that the removal of limits on interest rates in free-trade zones could bring a significant change on capital flows.