Shanghai pilot free trade zone established

Shanghai pilot free trade zone is a regional free trade zone established by the Chinese government in Shanghai, located in Pudong, which belongs to the category of China free trade zone. On September 29, 2013, China (Shanghai) pilot free trade zone was officially established, covering an area of 28.78 square kilometers, covering four special customs supervision areas, including Shanghai Waigaoqiao Free Trade Zone, Waigaoqiao Free logistics park, Yangshan Free Trade Port Zone and Shanghai Pudong Airport comprehensive free trade zone. On December 28, 2014, the Standing Committee of the National People's Congress authorized the State Council to expand the area of China (Shanghai) pilot free trade zone to 120.72 square kilometers. The expansion area includes Lujiazui financial area, Jinqiao Development Area and Zhangjiang High tech area.

The overall objectives of the establishment of the Shanghai pilot free trade zone are: after two to three years of reform and test, we will accelerate the transformation of government functions, actively promote the expansion of the service industry and the reform of the foreign investment management system, vigorously develop the headquarters economy and new trade formats, accelerate the exploration of capital project convertibility and the full opening of the financial service industry, and explore the establishment of a classified supervision mode of goods status Efforts should be made to form a policy support system to promote investment and innovation, foster an international and legal business environment, strive to build a free trade pilot area with international standards of investment and trade facilitation, free currency exchange, efficient and convenient supervision, and standardized legal environment, explore new ideas and new ways for China to expand opening up and deepen reform, and better serve the whole country. The establishment of China (Shanghai) pilot free trade zone is a major decision made by the CPC Central Committee and the State Council.

It is a major measure to thoroughly implement the spirit of the 18th CPC National Congress and promote reform and opening up in the new situation. It is a major measure to accelerate the transformation of government functions, actively explore innovation in management mode, promote trade and investment facilitation, and explore new ways and accumulate new experience for comprehensively deepening reform and expanding opening up , of great significance. Copy the successful experience of Shanghai pilot free trade zone. By August 2019, the pilot free trade zone will gradually expand from Shanghai to Guangdong, Tianjin, Fujian, Liaoning, Zhejiang, Henan, Hubei, Chongqing, Sichuan, Shaanxi, Hainan, Shandong, Jiangsu, Guangxi, Hebei, Yunnan, Heilongjiang and other places.