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Shanghai FTZ to make further progress

chinadaily.com.cn Updated:2018-02-09

Shanghai's free trade zone is one of the most important national strategies. China's State Council has released a report putting forward Shanghai's city planning, construction and future development, especially a series of plans as to how to develop the free trade zone into a center of international economy, finance, trade, shipping and scientific innovation, according to a news report published on Pudong's website on Jan 25.

According to the report, the Free Trade Zone will develop in the following areas.

First, it will develop a high-level international free trade port in the zone to facilitate international trade, investment and the transportation of goods.

Second, it will aim to improve its policies to benefit more enterprises in the zone. For example, the recent policy puts forward that enterprises can apply for the medical instrument registration as long as it owns the production ability.

Third, China Council for the Promotion of International Trade will cooperate with Shanghai's Free Trade Zone in probing the new mode of development and through cooperation the two sides will give play to their own advantages. For instance, they will deepen cooperation in areas such as international trade, cooperation and investment, construction of an efficient service platform.

Fourth, it will continue advancing key projects such as the Yangshan Port of Shanghai International Shipping Center, where cargoes are transported automatically, and the biological medicine innovation center, which is also a platform to boost international medical development.

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Yangshan Port of Shanghai International Shipping Center. [Photo provided to chinadaily.com.cn]

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