6,000 companies apply for Shanghai FTZ SHANGHAI, Nov. 28 (Xinhua) -- About 6,000 companies have applied to register in Shanghai's free trade zone (FTZ) within two months of its launch, the administrative committee of the FTZ said on Thursday. As of November 22, a total of 1,434 companies have already registered in the FTZ. Of this number, 38 are foreign-funded with an average registered capital of 15 million U.S. dollars, and 1,396 are domestically funded with an average registered capital of 25 million yuan (about 4.07 million U.S.dollars), according to the committee. "The free trade zone has inspired people's enthusiasm for entrepreneurship," said Dai Haibo, deputy director of the administrative committee. "The general quality of the registered companies is good, judging from their average registered capital," Dai said. Regarding the fact that less than 3 percent of the registered companies are foreign funded, Ai Baojun, head of the administrative committee, dismissed the view that it had been a disappointing start. Ai said foreign companies have shown great interest in the FTZ and he has received many visits from companies, including Goldman Sachs, who are interested in setting up office there. "It's normal to have fewer foreign companies at the beginning, because they tend to do thorough research before making a final decision," according to the official. Shanghai FTZ to work on its negative list BEIJING, Nov. 28 (Xinhuanet) -- The new version of the negative list in 2014 for the China (Shanghai) Pilot Free Trade Zone has room for improvement on the 2013 version, said Ai Baojun, director of the zone administration commission, in a news briefing on Thursday in Shanghai. The commission is seeking advice from relevant industrial associations and main market players to streamline the current 190 administration measures according to Ai. FTZ policies to be upgraded to laws in June BEIJING, Nov. 27 (Xinhuanet) -- Policies operating in Shanghai's pilot free trade zone will be upgraded to laws as early as the middle of 2014, city officials said yesterday. To bring the FTZ to the next level, the city will discuss details of the zone policies and upgrade them to laws as early as in June, said Yin Yicui, head of the Standing Committee of the Shanghai People's Congress, the city's lawmaking body. Shanghai customs sets up FTZ bureau SHANGHAI, Nov. 27 (Xinhua) -- Shanghai customs on Wednesday opened an antismuggling sub-bureau in the China (Shanghai) Pilot Free Trade Zone (FTZ). The rapidly evolving environment in the FTZ needs effective control of smuggling, according to Shanghai customs. Shanghai's FTZ holds 1st auction of 90 items BEIJING, Nov. 25 (Xinhuanet) -- Bidders paid 8.68 million yuan (US$1.4 million) for 73 vintage watches and jewelry items at the first auction held in Shanghai's pilot free trade zone yesterday. More than 800 fims registered in Shanghai FTZ BEIJING, Nov. 22 (Xinhuanet) -- The FTZ administration committee has received more than 50,000 inquiries from companies and individuals. It expects that 19 opening-up policies in the service sector will be in effect by the end of this year. Rules for Shanghai FTZ expected next quarter: report SHANGHAI, Nov. 11 (Xinhua) -- The Shanghai Municipal People's Congress, the city's legislature, has begun research on regulations for China's first pilot free trade zone (FTZ), which are expected to become effective in the first quarter of 2014, the Shanghai Securities News reported on Monday.