China’s central government announced the Shanghai Pilot Free Trade Zone on Friday, and then the zone went quickly into action on Sunday. This is momentous because it opens up much for free trade and financial system liberation, and the idea is to test openness within the FTZ and then possibly extend it to the rest of China. Services and goods conducted within the FTZ seem to be able to be exported or used outside of the FTZ in the rest of China. The complete set of rules is not yet released.
We do know that there will be a “negative list management system” meaning that all things not permitted will be listed, and everything else will be permitted. One of the critical areas to be opened is that of game consoles and games for consoles, which have been banned since the year 2000.
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