China's State Council has mandated nationwide replication of 77 groundbreaking policies from the China (Shanghai) Pilot Free Trade Zone in July, marking a significant leap in institutional reform. Since its inception, the Shanghai FTZ has spearheaded over 100 "first-in-China" initiatives, providing a blueprint for high-standard economic opening.

Innovative customs models boost global trade

At Shanghai's Nangang Terminal, electric vehicles now exit the Yangshan Free Trade Zone under an expedited customs clearance system, eliminating customs declarations and cutting clearance times by 70 percent.

This innovation has propelled Yangshan Port to the top of global container port efficiency rankings, with international transshipment volumes rising from 12.6 percent to 18.6 percent of total cargo.

Digital trade rules unlock data flows

The Shanghai Data Exchange has established China's first cross-border data trading framework, facilitating over 3 billion yuan ($420.78 million) in transactions in 2024. Paired with negative lists for data exports, these rules enable precision management across 11 sectors, including intelligent connected vehicles.

Financial pioneering expands global access

Shanghai FTZ hosts China's first foreign-controlled wealth management firm and sole foreign-owned mutual fund company. Breakthroughs like digital renminbi settlements for international crude oil trades and standardized reinsurance platforms are reshaping global financial networks.

Payment innovations bridge China and the world

Ant International's "bind foreign cards" and "use foreign wallets" services now allow tourists to pay via Alipay using international bank cards or home-country e-wallets, eliminating app downloads.

As departments roll out these measures nationwide, Shanghai FTZ continues to redefine China's integration with global markets.