Shanghai Free-Trade Zone (FTZ): Foreign Banks Not Happy With Ambiguous Regulation

China had hoped Shanghai's new free-trade zone (FTZ) would someday make the city an international financial hub on par with Hong Kong. Well, regulation delay isn't exactly the way to expedite the process. Foreign banks that were lobbied by the Chinese government to open branches in the free-trade zone have been left with little to do by ambiguous guidance and regulations that have yet to come into force, the South China Morning Post reports.