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"China's push to boost higher-quality global exports and domestic consumer spending will continue to fuel global trade."

"Chinese companies will follow WTO rules and negotiate import agreements with US companies in accordance with market-based principles to expand imports of goods and services from the US."

"Clinical trials can be reduced for medical devices that treat rare diseases. For those that have been approved to be marketed in a foreign market, they will be able to gain marketing approval in Shanghai with collateral agreements," read the document.

"Contrary to the assertions of the USTR, we were hardly forced into these arrangements," he wrote on the Project Syndicate website on Tuesday.

"Cross-border online shopping will be easier and faster. People will have access to cheaper foreign products after the establishment of the zone. And it is foreseeable that more foreign banks will establish themselves in the FTZ, enabling people to manage their money in diversified ways," he said.