China's first free trade zone tipped to open access to investors
China’s piloting of its first free trade zone (FTZ) in Shanghai is drawing interest from Australian business, following its launch in late 2013. Backed by Chinese Premier Li Keqiang, the FTZ is expected to be a testing ground for a number of economic reforms, with its tax-free period of 10 years for businesses and the permitting of yuan convertibility and unrestricted foreign currency exchange in the area.
Further to the details available at the September launch, a December announcement from the People’s Bank of China said companies with operations within the zone could issue yuan-denominated bonds, thereby opening access for overseas firms to Chinese investors and making it easier to raise funds.
The establishment of the Shanghai Pilot FTZ has prompted commentators to speculate that Shanghai may in the future rival Hong Kong as the financial and trade ‘gateway’ to China.
The potential impact and opportunities created by the FTZ will be discussed at the AusBiotech 2014 ‘Australia China Life Sciences Summit’, held 18 to 19 February at Sydney’s Amora Hotel Jamison.
Kit Kwok of DLA Piper Shanghai and David Morris DLA Piper Australia will discuss the latest developments in investment vehicles in China, including the FTZ in Shanghai and what this means for investment in China, as well as the latest developments from an Australian regulatory perspective in accessing capital from China.
Sessions will cover how to conduct due diligence on potential business partners, key market issues and recent regulatory enforcement action in the areas of commercial bribery and price investigations by Chinese regulators, and lots more.
For the full program and to register, visit www.auschinasummit.com.au. For enquiries, contact Hayley Laing, Investment Program Manager (hlaing@ausbiotech.org) or Kirsty Whitehead, Conference and Events Manager (kwhitehead@ausbiotech.org) or call 03 9828 1400.
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