The China (Shanghai) Pilot Free Trade Zone (SHFTZ), located in Pudong New Area, is a regional free trade zone founded on Sept 29, 2013 and originally consisted of Waigaoqiao Free Trade Zone, Waigaoqiao Free Trade Logistics Park, Yangshan Free Trade Port Area and Pudong Airport Free Trade Zone. The State Council decided on December 28, 2014 to expand SHFTZ by incorporating Lujiazui Financial Area, Jinqiao Development Subzone, and Zhangjiang High Tech Subzone, enlarging the SHFTZ from 28.78 square kilometers to 120.72 square kilometers.
Shanghai will open wider doors to the outside world, as opening up is the city's biggest strength, said Li Qiang, Party secretary of Shanghai, during a meeting with Roger Crandall, CEO of US-based MassMutual Financial Group on Nov 10.
- Shanghai to open wider doors to outside world
- China's first report on service imports released at CIIE
- 10 foreign-invested industrial projects land in Shanghai
In terms of the business operation for companies and organizations, some of the types of business are only available in the nationally forerunning Shanghai Pilot Free Trade Zone (SHFTZ), Also, there are some types of business that could be operated wholly in the SHFTZ, but only partially outside the zone. Negative list filling management, the openness of its service and manufacturing industries, filing management over foreign investment, new trade facilitation mode, and financial openness and innovation are the highlights and advantages of SHFTZ.
For the purposes of pushing forward and ensuring the construction of SHFTZ, giving full play to its role of "experimental plot" in advancing reforms and raising the level of open economy, these Regulations are formulated in accordance with the Framework Plan approved by the State Council, the Decision of the State Council on Adjusting Temporarily Administrative Approval Items or Special Administrative Measures for Access Prescribed by Related Administrative Regulations and the State Council's Documents and other related laws and administrative regulations.
Regulations of China (Shanghai) Pilot Free Trade Zone
Service Centers for offering consulting services and handling affairs of businesses registered in China (Shanghai) Pilot Free Trade Zone.
Shanghai Citizen Service Center
Service: Handling affairs of businesses registered in Lujiazui and Expo Park areas
Add: 1/F, 2 Hehuan Road, Pudong New Area
Tel: +86-21-68546904, +86-21-68546704, +86-21-68542222, ext. 81523-81528
What does it mean when FTZ allows foreign companies and Chinese private investors to enter banking business?
A: Banks in the FTZ can do foreign currency businesses without any restrictions. JV banks and banks with limited licenses are allowed to operate in the FTZ.