October 13, 2020

FTZ deepens investment, trade facilitation reforms

The Shanghai Free Trade Zone has made significant efforts to deepen reforms in investment and trade facilitation this year.
The FTZ has greatly cut the time for enterprise name registration and issued 10 measures to promote the achievements of reforms and innovations in 167 incubators and maker spaces.
The country’s first cross-border industrial e-commerce project, launched by a semiconductor firm operated by Kintetsu Group, kicked off recently in the FTZ.
Since the China (Shanghai) Free Trade Zone Offshore Switch Trade Industrial Service Center opened, 47 enterprises in the FTZ have enjoyed facilitation policies for switch trade payment and foreign exchange.
By the end of June, the Pudong New Area had housed 344 headquarters of transnational corporations, accounting for half of the total number in the city.
Besides, a smart monitoring system that adopts artificial intelligence, big data, cloud computing and other modern information technologies has been applied to enhance industrial supervision in the zone.