The free trade area entered into force for China and six founding ASEAN members, lowering tariffs across much of their trade. It deepened regional supply chains and South-South economic links, while gains varied across industries and countries and integration remained shaped by unequal market size.
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What did the 2013 Shanghai Pilot Free Trade Zone test?
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Explanation
The zone served as an experimental site for economic opening.
The Shanghai Pilot Free Trade Zone opened in 2013.
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Explanation
It tested reforms in trade, investment, finance, and administration.