Shanghai Revises Regulations for China (Shanghai) Pilot Free Trade Zone

On September 25, the Standing Committee of the Shanghai Municipal People’s Congress adopted the revised China (Shanghai) Pilot Free Trade Zone Regulations (the “Regulations”), which will come into effect on September 29, 2025.

The Regulations specify that the Pilot Free Trade Zone implements pre-entry national treatment and negative-list management for foreign investment, and promotes trade facilitation, financial innovation and openness, and optimization of science, technology, and talent policies. The Regulations support outbound investment registration management, negative lists for cross-border service trade, international ship registration, offshore finance, the digital economy, cross-border data flows, intellectual property protection, green finance, and comprehensive industrial chain innovation and development. Enterprises within the Pilot Free Trade Zone are entitled to fair treatment, with improvements to the business environment, government services, regulatory mechanisms, and foreign-related legal services.