24 | Oct |
2017 |
Shanghai’s pilot FTZ to become free port
Shanghai’s Party Secretary Han Zheng confirmed plans to turn the city’s pilot free trade zone (FTZ) into a world-class free port. The port has entered the “planning stage” and needs to get the green light from the central authorities before moving forward, he added. The announcement of the plan to deepen reform and further open up the economy, has sparked a boom in shares that are port and transportation-related or with Shanghai in their names.
Shanghai Waigaoqiao Free Trade Zone Group Co and Shanghai International Port Group Co were among the stocks that jumped by the daily limit of 10% on October 20. In May, Beijing approved a plan to comprehensively expand the opening-up of the China (Shanghai) Pilot Free Trade Zone, which, according to Han, marked the ‘3.0 version’ of the FTZ since its debut in 2013 and first expansion two years ago. “System innovation is the core task of the zone,” he said.
Experts said import cargo controls would be further relaxed and customs clearance streamlined in accordance with international practice. “The prospective free trade port is likely to test the waters for trade facilitation measures and provide policy support to the high-tech sector,” according to Sun Yuanxin, Deputy Director of the Research Institute for the Shanghai FTZ at the Shanghai University of Finance and Economics. “It will take about three to four years to redesign a comprehensive set of rules and revise related regulations,” said Zhu Min, Deputy Director of the Shanghai Municipal Development and Reform Commission.
Shanghai’s FTZ has become a growth engine, contributing to a quarter of the city’s economic output this year, according to Weng Zuliang, Party Secretary of Shanghai’s Pudong New Area. A total of 49,000 enterprises, 20% of with foreign investment, had been established in the zone in the first eight months of 2017, exceeding the number of companies registered in the previous two decades. Earlier this year, the Ministry of Commerce (MOFCOM) announced the launch of an additional seven free trade zones to accelerate the nation’s opening-up and boost the Belt and Road Initiative, taking the number of FTZs to 11, the China Daily reports. Shanghai also plans to accelerate the development of a scientific innovation center with “global influence,” Shanghai Mayor Ying Yong told reporters.
- 11th EU-China Business Summit (10)
- 12th EU-China Business Summit (12)
- 19th Communist Party Congress (2)
- Activities (5)
- Activities (27)
- Activities by FCCC Structural Partners (9)
- Activities from EUCBA members (3)
- Activities supported by FCCC (1)
- Advertisement and sponsorship (2)
- Advertisements (10)
- Airlines and airports (69)
- Alternative energy (337)
- Announcements (158)
- APEC China 2014 (2)
- Automotive (699)
- Automotive Metals & Minerals (1,102)
- Belt & Road (2)
- Belt and Road Forum (5)
- Call for tenders (1)
- China News Round-up (225)
- Conferences (1)
- Corporate communications (1)
- Economic hubs (15)
- Environment (903)
- EU-China Business Association (1)
- EUCBA activities (5)
- EUCBA Bulletin (1)
- EUCBA news (1)
- Exhibitions (2)
- Expat corner (97)
- Express delivery (72)
- FCCC activities (151)
- FCCC news (1)
- FCCC notice (1)
- FCCC/EUCBA activities (44)
- Finance (713)
- Foreign investment (513)
- Foreign trade (536)
- Foreigners' job market (1)
- G20 (7)
- General information (4)
- Greenhouse gas emissions (144)
- Health (174)
- Inland river transport (20)
- Innovation (2)
- Interesting articles (2)
- IPR protection (242)
- IT & Telecom (2)
- Job Search (9)
- Jobs (4)
- Local government (1)
- Logistics (709)
- Logistics industry (49)
- Macro-economy (669)
- Manufacturing (1)
- Member activities (2)
- Member activities supported by FCCC (97)
- Members' News (101)
- Mergers & Acquisitions (375)
- Metals (211)
- Minerals (234)
- News from our partners in China (1)
- Notice (14)
- NPC '& CPPCC sessions (46)
- One-line news (184)
- One-line news (4)
- Past events (172)
- Petrochemicals (291)
- Pollution (372)
- Ports & sea transport (366)
- Prime Minister Michel's visit to China (1)
- Private enterprises (1)
- Projects (2)
- Publications (7)
- Quote of the week (78)
- Railway transport (34)
- Real estate (589)
- Retail (439)
- Road transport (16)
- Royal State Visit (2)
- Science & technology (359)
- Sharing services (1)
- Short news (462)
- Short news automotive (33)
- Short news metals (36)
- Short news minerals (44)
- SPECIAL REPORT (2)
- State Visit (4)
- Stock Markets (513)
- Structural partners (3)
- Technology (5)
- Tourism (1)
- Trade mission to China (3)
- Travel (541)
- Uncategorized (811)
- Vacancy (4)
- VIP visits (305)
- Warehousing (23)
- Weekly (8,355)
- April 2018 (35)
- March 2018 (48)
- February 2018 (40)
- January 2018 (52)
- December 2017 (36)
- November 2017 (66)
- October 2017 (44)
- September 2017 (46)
- August 2017 (66)
- July 2017 (95)
- June 2017 (85)
- May 2017 (90)
- April 2017 (80)
- March 2017 (81)
- February 2017 (90)
- January 2017 (103)
- December 2016 (68)
- November 2016 (75)
- October 2016 (98)
- September 2016 (89)
- August 2016 (96)
- July 2016 (87)
- June 2016 (72)
- May 2016 (93)
- April 2016 (83)
- March 2016 (82)
- February 2016 (97)
- January 2016 (82)
- December 2015 (59)
- November 2015 (101)
- October 2015 (89)
- September 2015 (88)
- August 2015 (99)
- July 2015 (78)
- June 2015 (94)
- May 2015 (90)
- April 2015 (81)
- March 2015 (105)
- February 2015 (71)
- January 2015 (87)
- December 2014 (65)
- November 2014 (86)
- October 2014 (92)
- September 2014 (191)
- August 2014 (46)
- July 2014 (64)
- June 2014 (146)
- May 2014 (141)
- April 2014 (146)
- March 2014 (173)
- February 2014 (124)
- January 2014 (164)
- December 2013 (111)
- November 2013 (180)
- October 2013 (193)
- September 2013 (226)
- August 2013 (47)
- July 2013 (69)
- June 2013 (172)
- May 2013 (221)
- April 2013 (234)
- March 2013 (179)
- February 2013 (159)
- January 2013 (163)
- December 2012 (125)
- November 2012 (150)
- October 2012 (185)
- September 2012 (179)
- August 2012 (49)
- July 2012 (46)
- June 2012 (170)
- May 2012 (200)
- April 2012 (213)
- March 2012 (210)
- February 2012 (165)
- January 2012 (207)
- December 2011 (190)
- November 2011 (220)
- October 2011 (156)
- September 2011 (222)
- August 2011 (76)
- July 2011 (86)
- June 2011 (181)
- May 2011 (227)
- April 2011 (218)
- March 2011 (204)
- February 2011 (159)
- January 2011 (199)
- December 2010 (180)
- November 2010 (228)
- October 2010 (191)
- September 2010 (274)
- August 2010 (118)
- July 2010 (110)
- June 2010 (168)
- May 2010 (109)