Investors have expressed disappointment over slow progress on easing capital controls and other financial reforms in the zone in the year since its launch. Data released on Friday confirmed the FTZ was a long way from becoming an international finance hub.
Cross-border renminbi fund flows totalled Rmb156bn ($25bn), just 15 per cent of Shanghai’s total cross-border flows, Zheng Yang, director of the Shanghai financial services office, said in a briefing.
But Mr Zheng also hinted that more substantive changes may yet be in the pipeline, so long as they do not lead to volatile fund flows.
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