Legal framework taking shape for Shanghai FTZ

It's first step to set up a new financial architecture as the country pursues a new round of reform

An executive meeting of the State Council said that a draft plan to suspend certain laws in the Shanghai Free Trade Zone will be submitted for the approval of the National People's Congress.

The measure was expected to ease the administrative approval procedures for foreign investment. It's also a first step in setting up a new financial architecture as the country pursues a round of economic reform.