The much-trumpeted mini-Hong Kong has turned out to be a damp squib as foreign business seem to give the Shanghai free-trade zone the cold shoulder for its lack of specifics.
Fewer than 3% of the firms that had registered at the zone since its opening in late September were foreign-funded, the Shanghai government said. Only 38 foreign firms have registered at the 28.78 square kilometer zone, with domestic firms accounting for most of the about 1,400 companies setting up shop there.
~ SCMP, November 29, 2013 ~