Hogan Lovells launches Shanghai Free Trade Zone microsite
Hogan Lovells today announced the launch of its Shanghai Free Trade Zone ("FTZ") microsite to provide information and resources with respect to the latest developments in the FTZ. The microsite contains an analysis of the FTZ rules relating to value-added telecommunications services ("VATS").
The microsite showcases Hogan Lovells' unique market positioning as the only major international firm on a panel of approved professional service providers for advising on investments in the FTZ. The site will publish key updates on FTZ rules and regulations as they are issued, as well as in-depth write-ups by Hogan Lovells' lawyers analysing their implications.
The FTZ, officially known as the China (Shanghai) Pilot Free-Trade Zone, was officially launched in September 2013. It is widely seen as a testing ground for economic and financial reforms with support from the Chinese central government. Foreign investors, especially those in heavily regulated or restricted sectors such as medical or telecommunications services, have been quick to demonstrate their interest in the industry-specific liberalisation policies within the FTZ. Other investors have been drawn in by the streamlined approval procedures, particularly for those sectors not included on the Negative List, moving away from the historical and onerous approval system towards a simplified and expedited record-filing system. If successful, the model may be replicated or rolled out elsewhere in China. Companies seeking to be at the forefront of developments in the liberalisation of the Renminbi have also shown interest in the FTZ; China has indicated that the FTZ is where the capital account will be liberalised on a trial basis in due course.
With its abundant on-the-ground experience and resources in China and expertise in all the key sectors, as well as its position on the FTZ panel, Hogan Lovells is uniquely positioned to help both inbound and outbound investors establish and develop their businesses in the FTZ.
Andrew McGinty, Head of Hogan Lovells' Corporate and M&A practice in Asia, commented:
"Our team has made tremendous efforts on the establishment of this microsite. I believe it will become an extremely helpful reference tool for our international clients to understand the most up-to-date developments as well as considering the values and returns by entering into the Shanghai FTZ."