Caixin
Nov 21, 2013 02:10 PM

Remember the Wenzhou Pilot Zone? It's Showing Mixed Results

(Wenzhou) – The launch of the Shanghai Free Trade Zone (FTZ) in late September coincided with the 18-month anniversary of a financial pilot zone in Wenzhou, the entrepreneurial hub in the eastern province of Zhejiang.

The city was lauded when the State Council, the country's cabinet, declared it a testing ground for financial reform in March last year. This was done to restore momentum in Wenzhou's flagging economy, which was weighed down by weak demand that had companies mired in debt troubles.

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