Citi and DBS receive go-ahead to operate in Shanghai’s free-trade zone

30 September 2013 | 3 minutes read

Officials of the recently-opened Shanghai-based free-trade zone (FTZ), have announced that two foreign banks — Citi and DBS — have been approved to operate in the 29 square km stretch. In the financial services sector, the FTZ is expected to be a testing ground for reforms such as interest rate liberalisation, yuan convertibility and cross-border investments. Though the promotion of…

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