On July 25, the Regulation on China (Shanghai) Pilot Free Trade Zone was adopted in Shanghai. The Regulation is China's first local regulation on a free trade zone and goes into effect on August 1.
With 57 articles in nine chapters, the Regulation covers areas such as  the administrative system, investments, trade facilitation, financial services, and tax administration.
The Regulation specifically proposes to maintain fair competition, and protect investors, employees, environment and intellectual property rights, as per international norms.