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Shanghai's New Free-Trade Zone: Reform Breakthrough or Hype?

More than three decades after China launched its first special economic zone in Shenzhen, aimed at jump-starting reforms and attracting foreign investors, China’s leaders are trying again.

On Sept. 29, the Shanghai Free Trade Zone, covering 28 square kilometers of the Pudong district, will open for business. “Priority will be given to easier investment access and greater openness in trade in services. We have also adopted measures to facilitate foreign trade and promote a steady growth in import and export,” said premier Li Keqiang, the top proponent of the new zone, in a speech in Dalian on Sept. 11.