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China (Shanghai) Pilot Free Trade Zone

Picture: China (Shanghai) Pilot Free Trade Zone
Picture: China (Shanghai) Pilot Free Trade Zone

The China (Shanghai) Pilot Free Trade Zone (SHFTZ or Shanghai FTZ) was approved by the State Council on 17 August 2013 as the first pilot free trade zone in China. It covers the four special customs supervision areas of the Waigaoqiao Bonded Area, Waigaoqiao Bonded Logistics Park, Yangshan Bonded Port Area and Pudong Airport Comprehensive Bonded Area. On 28 December 2014, the National People's Congress authorised the State Council to expand the SHFTZ by incorporating the Lujiazui Financial Area, Jinqiao Development Zone and Zhangjiang High-Tech Park. The expanded FTZ has a total area of 120.72 sq km.

Development Goals

According to the Plan for Further Deepening the Reform and Opening up of the China (Shanghai) Pilot Free Trade Zone (see Chinese version) approved by the State Council, the SHFTZ should deepen and improve investment management systems with the negative- list approach as the core, the trade regulation system focusing on trade facilitation, the financial innovation system aimed at capital account convertibility and liberalisation of the financial services, and the system of on-going and ex post supervision with the transformation of government functions as the core. The goal is to build an institutional innovation system that is in line with the common international rules of investment and trade, give full leverage to the radiating and exemplary role of key functional areas of finance and trade, advanced manufacturing and technological innovation, and strive to build a FTZ with the highest degree of openness, investment and trade facilitation, currency conversion freedom, convenient and efficient regulation, and a sound legal environment.

Foreign Investment Management

The Special Administrative Measures (Negative List) on Foreign Investment Access (see Chinese version) promulgated by the State Council set out special management measures for businesses and industries in which foreign investment does not qualify for national treatment, to be implemented in all 11 FTZs in China. For sectors falling outside the scope of the negative list, the system of advance approval for foreign-invested projects and the system of examining and approving the contracts and articles of association of foreign-invested enterprises will be replaced by filing requirements on the principle of same treatment for foreign and domestic investors.

Special administrative measures relating to national security, public order, public culture, financial prudence, government procurement, subsidies, special procedures and tax-related matters not on the negative list are subject to existing provisions. Foreign investment concerning national security is subject to review in accordance with the Tentative Measures for the National Security Review of Foreign Investment in Free Trade Zones (see Chinese version). 

Positioning of Sub-zones

FTZ Bonded Area

The FTZ Bonded Area, with an area of 28.78 sq km, was the first designated pilot area of the SHFTZ before its expansion. The FTZ Bonded Area comprises Waigaoqiao Bonded Area, Waigaoqiao Bonded Logistics Park, Yangshan Bonded Port Area and Pudong Airport Comprehensive Bonded Area.

Waigaoqiao Bonded Area (10 sq km) is China's first bonded area and first state-level import-export trade promotion and innovation demonstration area. Its diverse economic functions include free trade, export processing, logistics warehousing and bonded goods display and trading.

Waigaoqiao Bonded Logistics Park (1.03 sq km) is China's first integrated FTZ-port pilot logistics park as well as an important base for modern international logistics development.

Yangshan Bonded Port Area (14.16 sq km) is under "integrated FTZ-port" supervision. It is the core carrier of Shanghai's comprehensive pilot area for international shipping service development.

Pudong Airport Comprehensive Bonded Area (3.59 sq km) integrates the airport's bonded logistics area and the west freight area. It has the advantage of being the composite aviation hub of the Asia-Pacific region and is the pilot zone for the development of Shanghai's airport-based service industry.

For investment enquiries and related services, contact:

1. Waigaoqiao Public Service Center
Address: Comprehensive Service Hall, 9 Jilong Road, Pudong New Area, Shanghai
Tel: 86-21-58695566

2. Comprehensive Service Hall, Yangshan Bonded Port Area
Address: 1/F, Block D, Deep Water Port Business Plaza, 5 Shuntong Road, Pudong New Area, Shanghai
Tel: 86-21-68281620

3. Comprehensive Service Hall, Pudong Airport Comprehensive Bonded Area
Address: 7/F, A1 Zone, Pudong Airport Comprehensive Bonded Area Public Service Center (Phase 1), 1333 Wenju Road, Pudong New Area, Shanghai
Tel: 86-21-20285113

Lujiazui Financial Area

With an area of 34.26 sq km, Lujiazui Financial Area covers the Lujiazui financial district, the World Expo site and Qiantan. It forms the core of Shanghai's international financial centre, the high-end services cluster of Shanghai's international shipping centre as well as the modern commercial hub of Shanghai's international trading centre. Finance, insurance, securities and commerce are its dominant sectors. Headquarters of multinational companies, shipping agencies, emerging financial institutions, and futures markets are forming clusters here.

For investment enquiries and related services, contact:

1. Shanghai Citizen Service Center
Address: 1/F, 2 Hehuan Road, Pudong New Area, Shanghai
Tel: 86-21-68546904, 86-21-68546704, 86-21-68542222 ext 81523-81528

2. Expo Park Public Service Center
Address: 161 Zouping Road, Pudong New Area, Shanghai
Tel: 86-21-68586628, 86-21-68588919

3. Lujiazui Public Service Center
Address: 1/F, Block 3, 87 Tangqiao New Road, Pudong New Area, Shanghai
Tel: 86-21-60893775

Jinqiao Development Zone

With a planned area of 20.48 sq km, Jinqiao Development Zone is Shanghai's important core functional area for advanced manufacturing, hub for producer services, pilot area for strategic emerging industries, and demonstration area for ecological industries. Electronic information, automobile manufacturing and parts, modern home appliances and biomedicine are dominant industries in this zone.

For investment enquiries and related services, contact:

Jinqiao Public Service Center
Address: 1/F, Block 14, 27 Xinjinqiao Road, Pudong New Area, Shanghai
Tel: 86-21-68800000 ext 199

Zhangjiang High-Tech Park

With a planned area of 37.2 sq km, Zhangjiang High-Tech Park is Shanghai's core base for the innovation-oriented national strategy. Integrated circuit, software and biomedicine are the three dominant industries in this park, which boasts nine state-level bases, including the National Shanghai Biomedical Science and Technology Industry Base and the National Information Industry Base, as well as incubators of diverse models and types.

For investment enquiries and related services, contact:

Zhangjiang Public Service Center
Address: 3/F, Block 3, 1158 Zhangdong East Road, Pudong New Area, Shanghai
Tel: 86-21-50797963

Latest Policies and Regulations

Please see China (Shanghai) Pilot Free Trade Zone official website.

 

Please click here to view the latest articles of China Pilot Free Trade Zones.

Content provided by Picture: HKTDC Research
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