International banks will have the opportunity to provide new varieties of financial services in certain free trade zones.
China has also vowed to ease the movement of inbound and outbound capital associated with foreign investment to these areas in Beijing and Shanghai.
China’s experimental free trade zones started to emerge in the nation in 2013. The first zone of this kind was created in Shanghai in 2013. Subsequently, they emerged in various provinces across China, such as Beijing in 2020.
source: reuters.com
