FTZ will be new economic driver

The FTZ, consisting of just 29 sq km, could be the most important economic reform in China since the establishment of the Shenzhen special economic zone in the early 1980s, which paved the way to China becoming the manufacturing workshop of the world.

This time, however, the FTZ, officially called the China (Shanghai) Pilot Free Trade Zone, is not about manufacturing but the opening up of China's service sector - and, in particular, financial services, to the rest of the world.