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The Shanghai Free-Trade Zone: Development Plans

Dec 18, 2017

The Establishment of the free-trade zone (FTZ) in Shanghai, China, in 2013 was a result of the Chinese government plan. The main goal of this process was to implement economic and social reforms with the maximum efficiency. The Shanghai FTZ has many advantages for both - domestic companies and foreign businesses.

In early November 2017, the FTZ released its development plan for the 2016-2020 period. For now, it is already an innovative base for business. Furthermore, the plan declares that the rapid growth will continue to increase. Here are the main changes, which the Shanghai Free Trade Zone will implement within the next couple of years:

• The degree of openness will only grow. Investors, traders, businessmen will all have more possibilities to operate. Also, the more innovative your activity is, the more favorable climate you will have.

• The Chinese government promises to implement European legal standards of investments and management. This is made inter alia for promoting other Chinese regions to implement the same norms and standards.

• Pudong Airport area, which is the part of the FTZ, is supposed to develop in other fields as well. For example, it has to develop passenger logistics, improve business transfers and also trading transportation rules. The same applies for the Yangshan Port. Its area will focus on logistic, sales and shipping policy developments.

• For now, there are 62 offices of the international companies based in the Shanghai Free-Trade Zone. During the five years outlined in the development plan, the goal is to increase the number by promoting and attracting the new international companies.

• The government also plans to create an innovative park for e-commerce, shopping and mailing services. The main idea is to develop the trading industry that is already one of the strongest in China.

This can be seen, every part of the plan will require hard work, investments and upgrades in every field. However, this is supposed to make China a bridgehead in trade innovations, bilateral investments and new businesses promotion. The income increase forecast is very positive, therefore, if you plan to open a brand-new company or move your business, it might be an excellent choice. Offshorelicense Ltd has all necessary resources and the competence to consult you on establishing business in the Shanghai Free-Trade Zone.

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