Citizens walk into the Waigaoqiao Direct Imported Goods market in the Shanghai Free Trade Zone (FTZ) in Shanghai, east China, Aug. 13, 2014. The Shanghai FTZ was launched in September 2013. It allows foreign businesses to invest in a series of sectors. (Photo: Xinhua/Fang Zhe)
Authorities in Shanghai have announced a new program to allow people living in the Shanghai Free Trade Zone to become individual overseas investors.
Under the new scheme, people who have lived and worked in the FTZ for a year will be allowed to become part of the overseas investment strategy.
At the same time, authorities in Shanghai are also planning to expand the annual foreign exchange quotas from 50,000 U.S. dollars a year to as much as 300,000 U.S. dollars.
This should allow traders to invest more in the overseas markets.
