Shanghai is planning to set up a free-trade zone in the Pudong New Area later this year, the China Securities Journal reported on Tuesday.
Authorities in the city are working out plans to launch the zone as part of an attempt to turn Shanghai into an international trading center, the report said.
The plans include opening duty-free stores in the area — approved in December when the municipal government started looking for sites.
Under the initiative, Shanghai Pudong Airport Comprehensive Free Trade Zone is likely to be used to test the plan.
BJ-GZ HS to add 30b yuan to GDP annually
Great changes in Zhengzhou railway station
Wanda Group ventures onto the global stage
Sports car makers look to mainland market
Top Ten Economic Events in 2012
'Gold road' laid with gold bars