New Regulations for China Pilot Free Trade Zones

On July 19, the State Council released a circular declaring that they will adjust administrative regulations in China's Pilot Free Trade Zones.

The decision is designed to ensure lawful practices for all reform measures and opening up in the Pilot FTZ cities of Guangdong, Fujian, Tianjin and Shanghai. Eighteen administrative regulations, four State Council documents, and four departmental documents approved by the State Council are involved in the adjustment. Specific regulations include the foreign-capital enterprises law, the State Council’s decision to reform the investment system, as well as an update to the guidance catalog for foreign investment industries.

The State Council asked related departments and authorities to adjust their documents and regulations, seeking to establish a management system in accordance with requirements for the pilot cities.
The contents of the decisions will be adjusted according to the implementation of reform and opening up measures in the pilot cities, said the circular.