HK welcomes Shanghai free trade zone

It will be a pilot-free scheme.

The Hong Kong Government welcomed the launch of a pilot free trade zone scheme in Shanghai.

Chief Executive CY Leung said Hong Kong is looking forward to further enhancing co-operation with Shanghai.

“We hope to contribute to the economic development of our nation through sharing our experiences on various fronts, including administrative management, free trade and the legal system," he said.

Financial Secretary John Tsang said the pilot free trade zone will further liberalise various service industries and bring more business opportunities to related industries in Hong Kong.

Enterprises in Hong Kong already have a high level of international competitiveness. So long as they focus on sharpening their competitive edge, they need not worry about competition, he said.