(Yicai Global) June 21 -- Shanghai Free Trade Zone has kicked off two new projects as it looks to open its doors wider to foreign entrepreneurs looking to make their way into the world's second-largest economy.
The FTZ opened the International Science and Technology Innovation Center and the Offshore Innovation and Entrepreneurial Base for Overseas Professionals yesterday during the X-Summit Global Innovation and China, local news outlet Wenhui Daily reported. The exact functions of the schemes were not disclosed.
Opening the centers is a key step toward creating an internationally influential and authoritative brand for the summit by leveraging world-leading resources at the Waigaoqiao Free Trade Zone (part of Shanghai FTZ), Li Zhaojie, deputy director of the administrative committee for Shanghai FTZ, said at the summit.
The committee aims to further liberalize the region to facilitate investment and create a more favorable business environment for science and tech startups, he added.
Editor: James Boynton