(XINHUA)

Ai Baojun, Deputy Mayor of Shanghai, was appointed director of the managing committee of the Shanghai pilot free trade zone (FTZ).

Ai, 53, was born in northeast China's Liaoning Province and had been the general manager of Baosteel Group, China's largest steel maker.

The Shanghai pilot FTZ was officially initiated on September 29 to nurture changes through experiments in a wide range of areas, including testing of a convertible yuan, wider opening of 18 service sectors, and a negative list approach in governing foreign investment. After trial operation, successful experiences will be applied to other parts of China and help escalate its economy in the face of current domestic slowdown.