Article 24 In the PFTZ the examination formalities for employment permit to the  foreign employees of enterprises in the zone shall be simplified, with visa and valid term of residence permit to be relaxed and with entry, exit and residence to be facilitated.

To foreigners who conduct commercial trade at the invitation of enterprises in the zone, the entry-exit administration shall, pursuant to regulations, give visa waiver and easy temporary entry.

For Chinese employees of enterprises in the zone who need to go abroad or outside the border frequently, the entry-exit administration shall provide easy process of exit papers.

Chapter V  Financial Service

Article 25 Under the premise of risk under control, conditions shall be created in the PFTZ for steadily conducting the first try of RMB capital account convertibility, market-driven interest rate of financial market, RMB cross-border use and foreign exchange reform and such other aspects.  

The financial factor market and financial institutions shall be encouraged to conduct innovation in financial products, business, services, and risk management in the PFTZ pursuant to the State provisions. Relevant departments of this Municipality shall provide support and facility for financial innovation in the PFTZ.

This Municipality shall establish the PFTZ financial work coordination mechanism with participation of Shanghai-stationed agencies of the national financial management department, the municipal financial service department and the Administrative Committee.

Article 26 The PFTZ shall establish a free trade account system in favor of risk management and exercise separate accounting management. Residents in the zone may open resident free trade accounts pursuant to regulations; non-residents may open non-resident free trade accounts in the banks in the zone, and accept relevant financial service on the principle of pre-access national treatment; financial institutions in Shanghai areas may, through setting up separate accounting units, provide financial service relating to free trade accounts.

Funds may be transferred freely between free trade accounts and between free trade accounts and overseas accounts and domestic outside-the-zone non-resident institution accounts. Free trade accounts may, pursuant to regulations, handle cross-border financing and guarantee business. Fund flow between resident free trade accounts and domestic outside-the-zone bank settling accounts shall be deemed as cross-border business management. The resident free trade accounts in the same non-financial institution subject may, pursuant to regulations, handle fund transfer to other bank settling accounts.

Article 27 The cross-border fund flow in the PFTZ shall be under management on the financial macro-prudential principle. The cross-border direct investment remittance formalities shall be simplified in the PFTZ, the PFTZ cross-border direct investment, disconnected from the pre-approval, may directly handle the involved cross-border payment and remittance business at the bank. Various subjects in the zone may, pursuant to regulations, conduct relevant cross-border investment or financing remittance business.