China Launches Pilot to Open Up Cross-Border Trade and Investment Further

The State Administration of Foreign Exchange has disclosed that ‘high-level’ opening up of cross-border trade and investment will be piloted in the Shanghai and Guangdong pilot free trade zones, the Hainan free trade port, and the Beilun district of Ningbo. The pilot includes nine capital-account reforms, four current-account facilitation measures and two requirements for strengthening risk prevention and control.