|Shanghai Free Trade Zone on Brink of Shut Down|
|by Tom McGregor||Mon, Sep 15, 2014, 01:59 AM|
BEIJING: The Chinese government continues to show more signs of reversing free market reforms.
China Radio International reports that, "Shanghai authorities announced Monday that Dai Haibo no longer serves as Communist Party chief and executive deputy director of the administrative committee of the China (Shanghai) Pilot Free Trade Zone (FTZ)."
A crackdown on the Chinese government is forcing officials to shun reforms or risk facing allegations of corruption.
According to CRI, "The free trade zone in Shanghai was officially launched in Sept. 29, 2013 and has pioneered several financial reforms, broadened foreign companies' access to China's service sector and explored more efficient and streamlined government oversight."
China's economic growth has slowed down dramatically as well.
To read the entire article from China Radio International, link here:
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