Here’s a bit of background on China approving a free trade zone in Shanghai.
This is to be mainland China’s first free trade zone, and will serve as a testing ground for China’s government to launch major financial reforms
Sources said earlier that Li aimed to allow foreign banks to set up subsidiary or joint-venture operations and give permission for foreign commodities exchanges to own warehouses in the free-trade zone.
There’s more here, but details are still sparse at this stage
