Shanghai Free-Trade Zone doubles in size to include Tesla base, drawing US$1.55 billion investment

The Chinese government has formally expanded the Shanghai Free-Trade Zone (FTZ) to include the city’s Lingang area, which is home to US carmaker Tesla’s first overseas plant.  The move has attracted 11 billion yuan (US$1.55 billion) worth of investment as of September 12, 2019, Chinese state media reported.  The expansion of the free-trade zone was described as being part of Beijing’s efforts to further open up the country’s market and deepen economic reforms.