The Lingang expansion of the Shanghai free trade zone (FTZ) is officially unveiled on Aug 20, 2019. [Photo by Gao Erqiang/China Daily]

Lingang, with a start-up area of 119.5 square kilometers, will facilitate overseas investment and capital flows and realize the free flow of goods, according to an overall plan for the new Lingang area of the China (Shanghai) Pilot Free Trade Zone issued by the State Council, or the cabinet.

The section will match the standard of the most competitive free trade zones worldwide and implement opening-up policies and systems with strong global market competitiveness, according to the plan.