August 11, 2017

FTZ enterprises report big profit growth in first half

The total turnover of enterprises in Shanghai Free Trade Zone grew 14 percent in the first half of 2017 over the same period of last year and their total profit jumped 32 percent year-on-year, according to statistics from the FTZ administration.

Foreign trade grew 18.8 percent in the zone, 0.1 percentage points more than the city’s average rate and 1 percentage point ahead of other free trade zones in the country.

Shanghai FTZ will maintain the momentum of economic growth through reform and innovation. Its GDP rose 18 percent in the second quarter, 8 percentage points faster than the first quarter.

The FTZ also registered a 13 percent increase in commodity sales and an 18 percent rise in shipping and logistics revenue in the first half of the year.

Corporate profitability improved in the FTZ with 76 percent of large companies making profits. The FTZ also recorded a 19.3 percent increase in local general public budget revenues in the first half.