Waigaoqiao Bonded Area receives four honors
Waigaoqiao Bonded Area [Photo/WeChat account of Shanghai FTZ]
The Waigaoqiao Bonded Area in Shanghai received four awards after a recent evaluation by FDI magazine, which is affiliated with the Financial Times, on more than 1,200 free trade zones across the globe.
The bonded area was honored with the Large Tenant Award – Asia-Pacific, as well as three other awards for Trade Facilitation, Expansion, and Efforts to Improve Transparency.
The Waigaoqiao Bonded Area was China's first bonded area, and after 30 years of development, it has become China's largest special customs supervision area with a planned area of 10 square kilometers.
The Waigaoqiao Bonded Area is the world's only free trade zone to be awarded for Efforts to Improve Transparency, and the Asia Pacific's only free trade zone to receive the Large Tenant Award – Asia-Pacific.
A host of well-known global investors, including Siemens, Mitsubishi Corporation, and Arrow Electronics, operate in the Waigaoqiao Bonded Area.
The area is currently home to 98 transnational corporations.