China's trials of digital RMB expanded into six more areas by the end of 2020.
As an indisputable global financial center, there will be more to see in Shanghai's capital market reforms, and the city's ambition is clearly manifested in its 14th Five-Year Plan (2021-25).
The Pudong New Area issued three new policies at the 2020 Shanghai Global Talents Innovation and Entrepreneurship Summit on Dec 24.
Pudong New Area in Shanghai recently launched 16 guidelines to accelerate the development of the core supporting area of the Shanghai international financial hub.
In terms of the business operation for companies and organizations, some of the types of business are only available in the nationally forerunning Shanghai Pilot Free Trade Zone (SHFTZ), Also, there are some types of business that could be operated wholly in the SHFTZ, but only partially outside the zone. Negative list filling management, the openness of its service and manufacturing industries, filing management over foreign investment, new trade facilitation mode, and financial openness and innovation are the highlights and advantages of SHFTZ.
In the past four years since the establishment of SHFTZ, over 49,000 enterprises have newly registered in the zone, and the average monthly registered enterprises number has grown by five times compared to before the zone was established.