|China Allows Foreign Investors to Wholly Own E-commerce Business|
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Foreign investors are allowed to fully own e-commerce companies in a pilot scheme in the Shanghai Free Trade Zone (FTZ). IT said that telecommunication authorities in Shanghai would take charge of the pilot scheme and regulate and supervise foreign investors.
The entry of foreign investors to Shanghai FTZ is expected to trigger a gradual opening to overseas capital in China's lucrative e-commerce business currently dominated by homegrown giants including Alibaba, JD.com and others.
The Shanghai FTZ was launched in September 2013 to test a broad range of economic reform measures.
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Published on our website on Jan.15, 2015