国家试验——中国(上海)自由贸易试验区制度设计(增订版)
2015-07-23 15:13
字体
保护色
打印
返回
关闭

前言

 

建立中国(上海)自由贸易试验区是中国中央政府作出的重大战略决策,是一项具有全局意义的国家战略和国家试验。在中国(上海)自由贸易试验区这个基点上,改革的力量再次聚合。建立中国(上海)自由贸易试验区,就是要主动顺应全球化经济治理新格局,打造我国面向世界、深耕亚太的战略载体;就是要先行试验国际贸易投资新规则新标准,积累新形势下我国参与双边、多边、区域合作的新经验,为与美国等发达国家开展相关谈判提供实证样本和参考依据,进而为我国参与国际贸易投资新规则制定提供有力支撑;就是要形成全国开放新格局中的先行试点,在接轨国际的制度规则、法律规范、政府管理、运作模式等方面率先探索实践,为我国深化改革开放提供可供借鉴的“制度试验池”和可复制可推广的新模式;就是要主动承担全国开放战略的先行引领使命,为我国推动更高层次的、与国际地位相适应的开放创造经验、积累经验,引领全国开放升级。

中国(上海)自由贸易试验区承载着贸易监管创新、投资管理创新、金融服务创新、离岸功能创新、政府管理创新等一系列制度创新的试验与示范。实行准入前国民待遇和负面清单管理模式,深化行政审批制度改革,建立事中事后监管制度和投资权益保护机制;扩大服务业领域开放,探索贸易投资自由化便利化管理制度和相关法律规范;推进金融制度创新和风险防控机制,建立国家金融经济全面深度开放的试验区和压力测试平台,建成具有国际水准的投资贸易便利、监管高效便捷、法治环境规范的自由贸易试验区,形成在全国可复制、可推广的管理制度和监管模式。自贸试验区的建设,需要开展一系列前瞻研究和创新突破,需要不断深入探索理论创新、制度创新、管理创新。这是我们开展这一重大研究课题的重要依据和目的所在。

本书基于我国适应新的全球化时代背景的战略要求,结合全球贸易投资格局及规则标准体系新变化,全面系统研究设计了中国(上海)自由贸易试验区制度框架。同时,按照建设具有国际水准自由贸易试验区的战略目标,比较研究国际成熟自由贸易园区及自由港都市的制度规则,提出了中国(上海)自由贸易试验区国际标杆。在此基础上,对中国(上海)自由贸易试验区的金融制度、投资管理制度、贸易监管制度、税收制度、离岸贸易和离岸金融制度、政府制度改革,以及自贸试验区服务“一带一路”和“长江经济带”国家战略,自贸试验区与上海建设国际经济、金融、贸易、航运中心和具有全球影响力的科技创新中心的联动机制提出总体框架、战略思路和实施路径。

    2013年9月29日,中国(上海)自由贸易试验区挂牌成立。2015年3月24日,中共中央政治局召开会议,充分肯定中国(上海)自由贸易试验区运行一年多来取得的积极进展,审议通过广东、天津、福建自由贸易试验区总体方案,以及进一步深化中国(上海)自由贸易试验区改革开放方案。自贸区在全国范围内继续布点和在上海不断扩容,是中国经济发展进入新常态新形势下,为全面深化改革、扩大开放探索新途径、积累新经验而采取的重大战略举措。中国(上海)自由贸易试验区将继续以制度创新为核心,在构建开放型经济新体制、探索区域经济合作新模式、建设国际化、市场化、法治化营商环境等方面,率先挖掘改革潜力,破解改革难题,当好全国改革开放排头兵、创新发展先行者。

目录

第1章中国(上海)自由贸易试验区制度框架1

1.1建设中国(上海)自由贸易试验区战略出发点1

1.2全球自由贸易园区发展新趋势新特征3

1.3中国(上海)自由贸易试验区功能定位5

1.4中国(上海)自由贸易试验区制度框架7

第2章中国(上海)自由贸易试验区国际标杆12

2.1投资领域的高度开放12

2.2国际贸易的转型升级21

2.3金融领域的开放创新25

2.4政府管理的依法高效27

2.5海关监管的“境内关外”32

2.6税收制度的相关安排34

第3章全球自由贸易园区制度国际比较37

3.1自由贸易园区发展概览37

3.2发达国家自由贸易园区制度(以美国为例)49

3.3新兴国家自由贸易园区制度(以迪拜为例)54

3.4发展中国家自由贸易园区制度(以巴西为例)56

3.5自由贸易园区政府管理体制60

第4章中国(上海)自由贸易试验区金融制度65

4.1资本账户开放65

4.2利率市场化改革67

4.3外汇管理改革69

4.4离岸金融发展70

第5章中国(上海)自由贸易试验区投资及监管制度72

5.1外商投资及企业监管国际比较72

5.2外商投资及企业监管共性特征89

5.3自贸试验区外商投资及企业监管91

5.4外商投资负面清单管理模式92

5.5外商投资反垄断及安全审查制度(以美国为例)97

第6章中国(上海)自由贸易试验区税收制度及政策102

6.1上海自贸试验区税收制度设计依据102

6.2促进离岸业务发展的税收制度安排106

6.3促进境外投资发展的税收制度安排109

6.4促进总部经济发展的税收制度安排117

6.5促进新兴服务业发展的税收制度安排124

6.6税收征收管理创新制度安排130

6.7基于国际惯例的税收政策创新132

第7章中国(上海)自由贸易试验区离岸功能制度149

7.1国际离岸贸易(金融)基本功能和发展趋势149

7.2自贸试验区发展离岸贸易(金融)战略必要性154

7.3自贸试验区发展离岸贸易(金融)战略可行性156

7.4自贸试验区离岸贸易(金融)制度安排159

7.5依托离岸贸易和国际贸易促进离岸金融发展161

第8章中国(上海)自由贸易试验区与政府改革163

8.1政府管理创新国际趋势特征163

8.2政府管理创新国际经验借鉴169

8.3自贸试验区政府管理制度安排178

8.4自贸试验区促进政府改革创新180

第9章中国(上海)自由贸易试验区与总部经济183

9.1跨国公司全球战略新趋势183

9.2跨国公司总部选址要素与政策诉求185

9.3集聚跨国公司地区总部政策与制度瓶颈189

9.4自贸试验区总部经济带动效应190

9.5自贸试验区促进总部经济发展制度安排192

第10章中国(上海)自由贸易试验区与“四个中心”功能194

10.1产业经济创新转型升级194

10.2国际金融中心功能制度创新200

10.3国际航运中心功能制度创新204

10.4国际贸易中心功能制度创新215

第11章中国(上海)自由贸易试验区运行周年评估220

11.1自贸试验区实现四大制度创新突破220

11.2自贸试验区取得四大改革开放成效224

11.3自贸试验区得到内外资企业普遍认可227

11.4自贸试验区深化发展的问题与难点229

11.5自贸试验区深化改革开放的战略取向234

第12章中国(上海)自由贸易试验区战略规划243

12.1自贸试验区制度创新的实践243

12.2自贸试验区制度创新深化重点245

12.3自贸试验区制度创新深化目标248

12.4自贸试验区制度创新深化路径250

第13章中国(上海)自由贸易试验区深化与2020“四个中心”联动254

13.1上海“四个中心”发展成效254

13.2上海“四个中心”总体评价259

13.3上海“四个中心”功能瓶颈260

13.4自贸试验区创新引领“四个中心”战略路径263

13.5自贸试验区金融创新开放与国际金融中心联动268

第14章中国(上海)自由贸易试验区深化与未来科技创新中心联动271

14.1全球科技创新中心发展趋势271

14.2全球科技创新中心发展规律274

14.3上海建设全球影响力科技创新中心内涵目标279

14.4上海建设全球影响力科技创新中心战略路径282

14.5自贸试验区与“四个中心”和科技创新中心联动288

第15章全球治理新格局与中国自由贸易区战略291

15.1自贸试验区服务“一带一路”国家战略291

15.2自贸试验区服务“长江经济带”国家战略305

15.3全球重大国际投资贸易治理新趋势315

15.4全球重大国际投资贸易规则新变化321

15.5全球治理改革与国家立场330

15.6全球治理改革与国家试验338

附录1中国自由贸易试验区知识点系列342

系列1国际自由贸易园区342

1. 国际自由贸易园区内涵特征/2. 国际自由贸易园区发展演变/3. 国际自由贸易园区类型模式

系列2国际经贸投资新规则345

4. TPP(跨太平洋伙伴关系协议)/5. TTIP(跨大西洋贸易与投资伙伴协议)/6. BIT(双边投资协定)/

7. TiSA(全球服务业贸易协定)

系列3自贸试验区投资管理制度创新348

8. 负面清单/9. 外资审批制度改革/10. 商事登记制度改革/11. 事中事后监管/12. 安全审查制度/13. 权益保护机制/14. 境外投资促进体系/15. 境外股权投资

系列4自贸试验区服务业开放357

16. WTO开放承诺与服务业开放进展/17. 金融服务领域开放之银行业/18. 金融服务领域开放之保险业/

19. 文化服务领域开放/20. 增值电信领域开放/21. 教育服务领域开放/22. 医疗服务领域开放/23. 专业服务领域开放

系列5自贸试验区金融制度创新367

24. 自贸试验区金融制度创新/25. 自贸试验区人民币资本项目可兑换/26. 自贸试验区利率市场化改革/

27. 自贸试验区外汇管理改革/28. 自贸试验区跨境贸易结算/29. 自贸试验区分账管理制度和账户设置/

30. 自贸试验区金融监管/31. 离岸金融

系列6自贸试验区新型贸易业态创新374

32. 全球贸易价值链格局重构/33. 离岸贸易/34. 国际大宗商品交易/35. 期货保税交割/36. 仓单质押融资/37. 跨境电子商务/38. 融资租赁/39. 离岸业务/40. 保税展示交易平台

系列7自贸试验区航运服务功能创新383

41. 航运金融/42. 国际船舶管理/43. 国际中转集拼/44. 国际船舶登记/45. 启运港退税

系列8自贸试验区监管模式创新387

46. 一线放开、二线管住/47. 货物状态分类监管模式/48. 电子围网管理

系列9自贸试验区法制环境390

49. 自贸试验区法制环境

系列10自贸试验区税收制度391

50. 自贸试验区税收制度

附录2接受主流媒体专访(采访)文章摘录393

人民日报:如何构建中国经济新引擎393

人民日报:先行先试引领开放新格局——中国(上海)自由贸易试验区获批395

新华社:探路中国开放型经济“第二季”——上海自由贸易试验区的国家使命397

人民日报:上海自贸区撬动新一轮改革开放399

人民日报:上海自贸区会是什么样?404

文汇报:上海:创新转型迈新步407

解放日报:“决定性”,市场作用质的提升410

新民周刊:自贸区能带来哪些红利?412

新民晚报:自贸区一年创下四大重要突破416

解放日报:自贸试验,上海深改最大举措418

新民晚报:上海自贸区第二年做什么?420

新华社:上海:率先直面“新常态”不拼资源拼智力422

解放日报:上海“新常态”:从拼资源转为拼智力423

新华社:以改革统领全局,勇于为国家试验——上海探路治理现代化425

国际商报:“自贸区改革要协同”431

新华社:从“政策推动”到“法治引领”——来自上海自贸区的探索与思考433

中国日报(美国):中国(上海)自由贸易试验区发展及展望436

新民晚报/人民网/新华网:上海自贸区进阶“一区多园”445

新民晚报/中国日报:上海自贸区深改方案要点明晰红利扩大447

新民晚报:负面清单将再缩短提升全球资源配置448

文汇报:2.0版上海自贸区将演改革重头戏449

新华社/人民网/中国日报:专家建议上海自贸试验区争取更多压力测试450

文汇报:联动四个中心和科创中心建设,“2.0版”上海自贸区制度创新要保持先发优势451

新华社:建开放度最高的自贸区——上海自贸区深化方案五大看点解析453

解放日报:须臾不忘国家战略——写在上海自贸试验区扩区之际454

附录3中国自由贸易试验区重要文件与特别解读458

国务院关于中国(上海)自由贸易试验区总体方案458

中国人民银行关于金融支持中国(上海)自由贸易试验区建设的意见464

国务院关于推广中国(上海)自由贸易试验区可复制改革试点经验的通知467

国务院关于进一步深化中国(上海)自由贸易试验区改革开放方案470

国务院关于中国(广东)自由贸易试验区总体方案475

国务院关于中国(天津)自由贸易试验区总体方案482

国务院关于中国(福建)自由贸易试验区总体方案490

国务院办公厅关于自由贸易试验区外商投资准入特别管理措施(负面清单)498

国务院办公厅关于自由贸易试验区外商投资国家安全审查试行办法506

建设开放度最高的自由贸易试验区当好新一轮改革开放的领跑者

——关于国务院《进一步深化中国(上海)自由贸易试验区改革开放总体方案》的解读508

参考文献515

后记517

Contents

Chapter 1Institutional Framework of China(Shanghai) Pilot Free Trade Zone(hereinafter CSPFTZ)1

1.1Strategic Starting Point of the Establishment of CSPFTZ1

1.2New Trends and Features of the Development of Globle Free Trade Zones3

1.3Functional Orientation of CSPFTZ5

1.4Institutional Framework of CSPFTZ7

Chapter 2International Benchmarking of CSPFTZ12

2.1Highly Opened Investment Sectors12

2.2Transformation and Upgrading of International Trade21

2.3Openingup and Innovation of Financial Field25

2.4Efficient and Lawabiding Government Management27

2.5The “Inside the Territory while Outside the Customs” Rule of Customs Supervision32

2.6Relevant Arrangements in Tax System34

Chapter 3International Comparison of Free Trade Zone Institution37

3.1An Overview of the Development of Free Trade Zone37

3.2Free Trade Zone System of Developed Country(Taking America for Example)49

3.3Free Trade Zone System of Emerging Country(Taking Dubai for Example)54

3.4Free Trade Zone System of Developing Country(Taking Brazil for Example)56

3.5Government Management System of Free Trade Zone60

Chapter 4Financial System of CSPFTZ65

4.1Capital Account Opening65

4.2Interestrate Liberalization67

4.3Foreign Exchange Administration Reform69

4.4Offshore Financial Development70

Chapter 5Foreign Investment and Corporate Regulation of CSPFTZ72

5.1International Comparison of Foreign Investment and Corporate Regulation72

5.2Common Features of Foreign Investment and Corporate Regulation89

5.3Foreign Investment and Corporate Regulation of CSPFTZ91

5.4Negative List Management Mode of Foreign Investment92

5.5Antitrust and Security Review System of Foreign Investment97

Chapter 6Tax System and Policy of CSPFTZ102

6.1Design Basis of the Tax System102

6.2Tax System to Boost the Offshore Business106

6.3Tax System to Boost the Overseas Investment109

6.4Tax System to Boost the Headquarters Economy117

6.5Tax System to Boost the Emerging Service Industry124

6.6New Institutional Arrangements of Tax Collection and Management130

6.7Tax and Policy Innovation Based on the International Practice132

Chapter 7Offshore Function System of CSPFTZ149

7.1Basic Functions and Development Trends of International Offshore Trade(Finance)149

7.2Strategic Necessity of Developing Offshore Trade(Finance)154

7.3Strategic Feasibility of Developing Offshore Trade(Finance)156

7.4Institutional Arrangements of Offshore Trade(Finance)159

7.5Develop Offshore Trade and International Trade to Boost Offshore Finance161

Chapter 8CSPFTZ and Government Reform163

8.1International Trends and Features of Government Management Innovation163

8.2International Experiences of Government Management Innovation169

8.3Government Management System of CSPFTZ178

8.4CSPFTZ Boosts Governmental Reform and Innovation180

Chapter 9CSPFTZ and Headquarters Economy183

9.1New Trends of TNCs International Strategy183

9.2Considerations and Policy Demands from TNCs Headquarter185

9.3Policy and System Bottlenecks of Encouraging TNCs Headquarters189

9.4Driving Effect on Headquarters Economy of CSPFTZ190

9.5The System to Boost Headquarters Economy of CSPFTZ192

Chapter 10CSPFTZ and Function of “the Four Centers of Shanghai”194

10.1Industrial economic Innovation, Transformation and Upgrading194

10.2Functional and Institutional Innovation of International Financial Center200

10.3Functional and Institutional Innovation of International Shipping Center204

10.4Functional and Institutional Innovation of International Trading Center215

Chapter 11CSPFTZ Oneyearoperation Review220

11.1Four Institutional Breakthroughs Achieved by CSPFTZ220

11.2Four Reform and Openingup Achievements Made by CSPFTZ224

11.3CSPFTZ has been Widely Praised by Foreign and Domestic Enterprises227

11.4Problems and Difficulties Confronted While Furthering CSPFTZ Development229

11.5CSPFTZs Strategy of Deepening the Reform and Openingup Process234

Chapter 12Strategic Planning of CSPFTZ243

12.1Institutional Innovation in CSPFTZ243

12.2Focus of Deepening Institutional Innovation in CSPFTZ245

12.3The Target of Deepening Institutional Innovation in CSPFTZ248

12.4Ways to Deepen Institutional Innovation in CSPFTZ250

Chapter 13The Linkage of the Further Development of CSPFTZ and the “Four Centers” Initiative in 2020254

13.1Achievements of Shanghais “Four Centers” Initiative254

13.2The Overall Evaluation of Shanghais “Four Centers”259

13.3The Functional Bottlenecks of Shanghais “Four Centers”260

13.4Innovation in CSPFTZ Leads the Way for “Four Centers” Development263

13.5The Coordination between Financial Innovation in CSPFTZ and Building Shanghai into an International Financial Center268

Chapter 14The Linkage between the Further Development of CSPFTZ and the Building of the Future Scitech Innovation Center271

14.1The Development Trend of the Global Scitech Innovation Center271

14.2The Development Pattern of the Global Scitech Innovation Center274

14.3The Connotation and Objective of Shanghais Endeavor to Build into a Scitech Innovation Center with Global Influence279

14.4The Strategic Path of Shanghais Endeavor to Build into a Scitech Innovation Center with Global Influence282

14.5The Internal Linkage among CSPFTZ, the Four Centers and the Scitech Innovation Center288

Chapter 15The New Pattern of Global Governance and Chinas Strategy of Free Trade Zone291

15.1CSPFTZs Role in the National Strategy of the Belt and Road Initiative291

15.2CSPFTZs Role in the National Strategy of the Yangtze River Economic Belt305

15.3The New Trend of Major International Investment and Trade Governance around the World315

15.4Major New Changes of the International Investment and Trade Rules 321

15.5Global Governance Reforms and State Governments Positions330

15.6The Global Governance Reform and National Tests338

Appendix 1Series of Knowledge Points on China Free Trade Zones342

Series 1International Free Trade Zone342

1. Definition and Characters of International Free Trade Zone/2. Development and Evolution of International Free Trade Zone/3. Types and Modes of International Free Trade Zone

Series 2New Regulations of International Trade and Investment345

4. TPP(TransPacific Partnership Agreement)/5. TTIP(TransAtlantic Trade and Investment Partnership)/6. BIT(Bilateral Investment Treaty)/7. TiSA(Trade in Services Agreement)

Series 3Investment Management System of China Free Trade Zones348

8. Negative List/9. Foreign Investment Approval System Reform/10. Business Registration System Reform/11. Inprocess and Afterprocess Supervision/12. National Safety Review System/13. Rights and Interests Protection System/14. Overseas Investment Promotion System/15. Overseas Equity Investment

Series 4Service Industry Opening in China Free Trade Zones357

16. WTO Commitments of Openingup and Progress of Opening of Service Industry/17. Banking Industry—the Opening of Financial Services/

18. Insurance Industry—the opening of Financial Services/19. The Opening of Cultural Services/20. The Opening of Valueadded Telecom Services/21. The Opening of Education Services/22. The Opening of Medical Services/23. The Opening of Professional Services

Series 5Financial System Innovation in China Free Trade Zones367

24. Financial System Innovation in CFTZ/25. RMB Capital Account Convertibility in CFTZ/26. Interest Rate Liberalization in CFTZ/27. Foreign Exchange Administration Reform in CFTZ/28. Crossborder Trade Settlement in CFTZ/29. Separated Account Management and Account Setup in CFTZ/30. Financial Supervision in CFTZ/31.Offshore Finance

Series 6Innovation of New Trading Types in China Free Trade Zones374

32. The Rebuilding of International Trade and Value Chain/33. Offshore Trade/34. International Bulk Commodity Trading/35. Bonded Delivery of Futures/36. Warehouse Receipts Hypothecated Financing/37. Crossborder eCommerce Platform/38. Finance Lease/39. Offshore Business/40. Bonded Exhibition and Trading Platform

Series 7Innovation of Shipping Service Function in China Free Trade Zones383

41. Shipping Finance/42. International Shipping Management/43. International Transit and LCL/44. International Ship Registration/45. Tax Rebate from Port of Departure

Series 8Innovation of Supervision Mode  in China Free Trade Zones387

46. Frontier Opening and Secondtier Control/47. Supervision Model of Categorized Management/48. Electronic Fence Management

Series 9Legal Environment in China Free Trade Zones390

49. Legal Environment in CFTZ

Series 10Tax System in China Free Trade Zones391

50. Tax System in CFTZ

Appendix 2Article Excerpts from the Interview of Mainstream Media393

Peoples Daily: How to Build the New Economic Engines of China?393

Peoples Daily: Pilot to Implement New Rules, Leading the New Pattern of Openingup—CSPFTZ is Approved395

Xinhua News Agency: Explore the Way of Chinese Open Economy “Season 2”—The National Mission of CSPFTZ397

Peoples Daily: CSPFTZ Will Lever a New Round of Reform and Openingup399

Peoples Daily: What is the CSPFTZ Going to Be Like?404

Wenhui Daily: Shanghai: A Remarkable Move of Innovation and Transformation407

Liberation Daily: “Decisive”, a Significant Improvement of the function of theMarket410

New People Weekly: What Kind of Benefits is the CSPFTZ Bringing toUs?412

Xinmin Evening News: Four Major Breakthroughs Made One Year after theEstablishment of CSPFTZ416

Liberation Daily: CSPFTZ, the Most Powerful Measure of Deepening Reform andOpeningup in Shanghai418

Xinmin Evening News: What does CSPFTZ Plan for the Second Year ofEstablishment?420

Xinhua News Agency: Shanghai Focuses on Wits instead of Resources in Adaptingto the “New Normal”422

Liberation Daily: Shanghais “New Normal”: Focusing on Wits Instead ofResources423

Xinhua News Agency: Improve the Overall Situation by Reform and Pilot for the Whole Nation—Shanghai Explores the Path to Modernization425

International Business Daily: Reform in CSPFTZ Calls for Synergy431

Xinhua News Agency: From “Driven by Policies” to “Guided by Rule of Law”—Explorations of and Reflections on CSPFTZ433

China Daily(US Edition): The Development and Prospect of China(Shanghai) Pilot Free Trade Zone436

Xinmin Evening News/people.cn/xinhuanet.com: CSPFTZ to Develop into “One Zone, Several Subparks”445

Xinmin Evening News/China Daily: The Reform Deepening Plan of CSPFTZ:Clear in Focus and More in Benefits447

Xinmin Evening News: The Negative List Will be Further Shorten to Upgrade theAbility to Allocate the Resources Globally448

Wenhui Daily: CSPFTZ 2.0 Will Highlight Reform449

Xinhua News Agency/people.cn/China Daily: The Expert Suggests the CSPFTZ Conduct More Stress Tests450

Wenhui Daily: Couple the Building of the “Four Centers” with the Scitech Innovation Center, Remain Shanghai Free Trade Zone Version 2.0 as the Pilot in Institutional Innovation451

Xinhua News Agency: Build the Most Highlyopened Free Trade Zone—An Analysis of the Five Highlights of the Reform Deepening Plan for CSPFTZ453

Liberation Daily: National Strategy Should Not be Forgotten—Before the Expansion of the CSPFTZ454

Appendix 3Important Documents of China Free Trade Zones and inDepth Interpretation458

Notice of the State Council on Issuing the Framework Plan for China(Shanghai) Pilot Free Trade Zone458

Opinions of the Peoples Bank of China on Financial Measures to Support China(Shanghai) Pilot Free Trade Zone464

Notice of the State Council on Expanding the Experience of the Reform Pilot Program of China(Shanghai) Free Trade Zone467

Notice of the State Council on Furthering the Reform and Openingup Plan for China(Shanghai) Pilot Free Trade Zone470

Notice of the State Council on Issuing the Framework Plan for China(Guangdong) Pilot Free Trade Zone475

Notice of the State Council on Issuing the Framework Plan for China(Tianjin) Pilot Free Trade Zone482

Notice of the State Council on Issuing the Framework Plan for China(Fujian) Pilot Free Trade Zone490

Notice of the General Office of the State Council on Issuing the Special Administrative Measures of China Pilot Free Trade Zones for Admittance of Foreign Investments(Negative List) 498

Notice of the General Office of the State Council on Issuing the Interim Procedures for the National Security Review of Foreign Investment in China Pilot Free Trade Zones506

Build the Most Highlyopened Free Trade Zone and Be the Pioneer of the New Round of Reform and Openingup—An Analysis of the Framework Plan for Furthering the Reform and Openingup for China(Shanghai) Pilot Free Trade Zone508

Reference515

Postscript517