Pudong to launch free-trade zone later this year

Shanghai is planning to set up a free-trade zone in the Pudong New Area later this year, the China Securities Journal reported on Tuesday.

Authorities in the city are working out plans to launch the zone as part of an attempt to turn Shanghai into an international trading center, the report said.

The plans include opening duty-free stores in the area — approved in December when the municipal government started looking for sites.

Under the initiative, Shanghai Pudong Airport Comprehensive Free Trade Zone is likely to be used to test the plan.