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|SHANGHAI http://www.philadelphiaflyersteamstore.com/ , Jan. 29 (Xinhua) -- Shanghai will add more free trade accounts, a measure aimed at easier financing for companies in the city.
A total of 70,000 free trade accounts have already been opened in Shanghai and total financing exceeded 1.1 trillion yuan, said Ying Yong, mayor of Shanghai, on Monday.
The accounts became operational starting from 2014 in the free trade zone in Shanghai, located in the Pudong New District. Companies registered in the FTZ use the accounts for financing, investment and other cross border transactions.
The accounts enable funds to move freely between the FTZ and offshore entities, while curbing speculative risks from overflowing in the onshore financial system.
Ying said the free trade account system was an important innovation in financial reform. "Shanghai will allow more companies to open free trade accounts," he said.
"Shanghai plans to build a free trade port in an effort to facilitate trade and investment. The port will be built in the Yangshan Deep Water Port and Pudong International Airport," Ying said.
A free trade port is set up within national or regional borders but outside its customs supervision. It is a highly opened-up area that allows the free flow of most commodities, currencies and personnel.
BEIJING, Jan. 29 (Xinhua) -- China on Monday strongly condemned a suicide car bombing in the Afghan capital of Kabul that killed at least 103 people and injured more than 230.
"China extends its condolences to those killed, and conveys sincere sympathy for the injured and families of victims," Chinese Foreign Ministry spokesperson Hua Chunying said at a daily press briefing.
Terrorists blew up an ambulance filled with explosives in central Kabul Saturday afternoon in the deadliest attack in months.
The attack, which was claimed by the Taliban, followed an assault by Taliban militants on a luxury hotel in Kabul a week ago, which killed 22 people.
"The Chinese side stands against all forms of terrorism, and firmly supports the Afghan government and people in their efforts to combat terrorism, safeguard national stability and people's safety," Hua said.
The bombing site was just 600 meters from the Chinese embassy in Afghanistan, Hua said, adding the embassy launched an emergency response mechanism after the attack.
No casualties of Chinese citizens have been reported so far, she said.
The Chinese Foreign Ministry and the Chinese embassy in Afghanistan reminded Chinese citizens in Afghanistan to raise their safety awareness and avoid heading for densely populated areas, said the spokesperson.
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