Administrators said more detailed policies will be introduced in the China (Shanghai) Pilot Free Trade Zone this year in order to boost interest and push forward reforms.

Zhou Zhenghua, head of the Development Research Center of Shanghai Municipal People's Government, said at a news

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conference in Shanghai on Sunday that the so-called "negative list" for the FTZ may be cut by 40 percent in 2014, meaning more sectors will be opened up to investors in the zone.

The Shanghai government published the list of areas that are off-limits or come with restrictions to investors in the FTZ last September. The list currently includes 190 special regulatory measures, covering a broad range of activities.

Zhou said 40 percent is a target the municipal government aspires to, although if or when it can be reached depends on decisions made by various departments within the central government. "But even if only 20 percent or 30 percent of the current version is cut, it will be a huge step forward," he said.

Last November, the Shanghai municipal government said its negative list would be modified to further support trade and financial reforms.

The list is reviewed annually, according to Shanghai municipal government.

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