By  on September 30, 2013

SHANGHAI — Local government officials on Sunday officially launched Shanghai’s Free-Trade Zone, or FTZ, a testing ground for China’s highly anticipated economic reforms.

The 11.2-square-mile zone encompasses a shipping port, duty-free zone, logistics zone and an international airport. According to a statement by China’s Ministry of Commerce, the FTZ will represent a significant “upgrade” of China’s economy, though exactly how it will operate and how much of an impact it will have on the country’s wider economy is still unclear.

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