What policies has the Shanghai FTZ adopted to open the shipping industry to foreign companies?
A: The FTZ has relaxed the restriction on the percentage of foreign capital in a joint venture shipping company. Relevant regulations will be made by transport authorities with the State Council. The FTZ allows domestic enterprises to own or hold shares of foreign-registered vessels. Initially, they are allowed to do container shipping for import and export businesses between Chinese coastal ports. The FTZ allows foreign investors to establish solely-owned ship management enterprises.