Head of Shanghai's free-trade zone to step down amid graft probe

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Shanghai’s Free Trade Zone, which was touted as being a new spur to Chinese trade, is not even a year old and already its chief has been removed by anti-graft authorities on the grounds of “disciplinary violations”. This comes as would-be investors who have been deterred from the FTZ appear to be mounting in number, complaining that promised regulatory relaxations have not materialised.