AFP, Shanghai :
China on Monday hailed the one-year anniversary of its first free-trade zone (FTZ), but foreign companies expressed disappointment over the pace of pledged reforms as they await real business opportunities.
When the FTZ was set up in China’s commercial hub Shanghai, officials promised a range of financial reforms, including full convertibility of the yuan currency and freer interest rates-both of which remain unfulfilled.
Authorities shook up the zone’s management, removing Communist Party chief and executive deputy director Dai Haibo just two weeks before the anniversary without giving a reason, after media reports he was under a cloud for alleged corruption.
